Oil prices plummeted, and the three major U.S. stock indices rose. Iran's retaliatory strike on the U.S. Air Force base in Qatar was seen as a symbolic event that would not trigger broader economic impacts. U.S. President Trump just announced that Israel and Iran have agreed to a ceasefire, set to take effect around midnight U.S. time on Monday. Bitcoin repeatedly fell below the $100,000 mark in two days, but this morning, encouraged by the ceasefire news, it surged from $99,613 to $105,596 at the time of writing. Coinglass's Fear and Greed Index continues to fall to the 37 fear zone.
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ToggleTrump Announces: Israel and Iran Agree to Ceasefire
U.S. President Trump announced on Monday that Israel and Iran have agreed to a ceasefire, set to begin around midnight U.S. time on Monday.
Trump made this announcement on his Truth Social platform a few days after ordering an airstrike on Iranian nuclear facilities, stating that the agreement was reached between the two countries. Trump also thanked Iran for notifying the U.S. in advance of the upcoming missile attack on the Al Udeid Air Base in Qatar, saying the notification "ensured no personnel would be harmed".
Assuming all goes well, I would like to congratulate Israel and Iran, two countries that have the perseverance, courage, and wisdom to end this so-called "Twelve-Day War".
Fed Officials Frequently Dovish, Market Focuses on Powell's Testimony This Week
Federal Reserve Board member Christopher Waller's support for a July rate cut last week boosted monetary market bets on policy easing. Fed Board member Michelle Bowman became the second Fed official to support the earliest possible July rate cut, believing that the tariff policies implemented during the Trump administration might have a temporary impact on U.S. inflation.
(Fed Official Bowman Signals Rate Cut: Possible July Cut if Inflation is Controlled)
Chicago Federal Reserve Bank President Austan Goolsbee said that if the impact of tariffs on inflation remains mild, the central bank might resume rate cuts, but he did not reveal the specific timing of such a measure.
The market is closely watching the Fed's subsequent statements, especially as Chairman Powell will begin a two-day congressional hearing this week, which will be a crucial indicator for assessing policy direction. The market hopes to understand why Powell and most policymakers seem determined to maintain stable interest rates at least until September, despite Trump's continuous calls to reduce borrowing costs.
Bitcoin Returns to $105K, Market Sentiment Still Cautiously Fearful
Bitcoin repeatedly fell below the $100,000 mark in two days, but this morning, encouraged by the ceasefire news, it surged from $99,613 to $105,596 at the time of writing.
Ethereum also returned above $2,400. Cryptocurrency positions totaling $475 million were liquidated within 24 hours, primarily in BTC and ETH.
Despite the price increase, Coinglass's Fear and Greed Index continues to fall to the 37 fear zone, indicating that market sentiment remains cautiously fearful.
Risk Warning
Cryptocurrency investment carries high risk, and its price may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
