[CoinNOW] Virtual Asset Market ‘Flames’ on News of Middle East Ceasefire

avatar
Bon Media
06-24
This article is machine translated
Show original
Photo shows the exchange rate displayed in Korean won at the Bithumb Lounge Gangnam branch in Seocho-gu, Seoul, on the 23rd when Bitcoin fell below $100,000. Yonhap News</div><figcaption>Photo shows the exchange rate displayed in Korean won at the Bithumb Lounge Gangnam branch in Seocho-gu, Seoul, on the 23rd when Bitcoin fell below $100,000. Yonhap News</figcaption></figure></div><p>Bitcoin, the leading cryptocurrency, has risen back to the $105,000 range after dropping below $100,000 due to the U.S. attack on Iranian nuclear facilities. The cryptocurrency market is recovering following Donald Trump's announcement of a ceasefire agreement between Israel and Iran.</p><p>As of 10:30 AM on the 24th, the Bitcoin trading price on domestic cryptocurrency exchanges Upbit and Bithumb was 145.5 million won and 145.51 million won per coin, respectively. At the same time, CoinMarketCap showed Bitcoin at $105,125 (approximately 143.7 million won), a 4.3% surge compared to the previous day.</p><p>At the same time, Ethereum, the second-largest cryptocurrency by market cap, rose 7.82% to $2,409 (about 3.3 million won). XRP also jumped 7.2% to $2.15 (2,940 won). Solana and Dogecoin also rose 8.5% and 7.6% respectively to $143.61 (about 190,000 won) and $0.16 (about 220 won), with the cryptocurrency market collectively rebounding.</p><p>Bitcoin had fallen to the $98,000 range following the U.S. attack on Iranian nuclear facilities on the 21st, dropping below the $100,000 mark for the first time in about a month and a half due to heightened Middle Eastern tensions. However, the price has gradually rebounded and is returning to pre-Middle East tension levels.</p><p>The cryptocurrency market's rebound is particularly driven by Trump's announcement of a potential Israel-Iran ceasefire. On his social media platform Truth Social, Trump stated,

Coin Telegraph reported that "Bitcoin prices avoided further decline amid optimism that the Middle East conflict will soon end" and that "analysts predict Bitcoin prices will continue to rise, with some forecasting it could reach $150,000 by the end of the year".

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Relevant content