Trump-mediated Iran-Israel full ceasefire… Bitcoin ($BTC) nears $106,000
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With the agreement of a comprehensive ceasefire between Iran and Israel in the Middle East region, Bitcoin (BTC) surged more than 6% in a day, approaching $106,000 (approximately 147.34 million won). This diplomatic breakthrough eased the previously high geopolitical tensions, resulting in a rapid recovery across the cryptocurrency market.
Former President Trump announced through his social media platform Truth Social late on the 24th local time that an "complete and comprehensive ceasefire between Israel and Iran" had been agreed upon. Prior to this, Iran's Foreign Ministry had also suggested a potential compromise by demanding a "halt to Israeli airstrikes" under unconditional ceasefire conditions.
The market response was immediate. Bitcoin reached $106,000 (approximately 147.34 million won) during the Asian market session and is currently maintaining around $105,000 (approximately 145.95 million won). Considering that just a day ago, Bitcoin had fallen below $100,000 (approximately 139 million won) due to the aftermath of a US strike on Iranian nuclear facilities, this represents a clear rebound.
A strong recovery is also visible across the cryptocurrency market. The total market capitalization increased by approximately $139 billion (about 193.21 trillion won) in 12 hours, recovering to $3.35 trillion (about 4,661.5 trillion won). Ethereum (ETH) rose 7%, surpassing $2,400 (about 3.336 million won), while Solana (SOL), Sui (SUI), Chainlink (LINK), Avalanche (AVAX), and Hedera (HBAR) surged between 7% and 12%.
The S&P 500 futures index also slightly rose on Monday night, showing a positive trend in traditional financial markets. Cryptocurrency analyst Michaël van de Poppe predicted that "as concerns about a potential third world war subside, macroeconomic indicators will be realigned" and forecasted that the dollar will continue to decline, gold will enter a correction, interest rates will decrease, and cryptocurrencies, including Bitcoin, will enter the strongest bull market in history.
This Middle Eastern ceasefire agreement is significant in triggering a "relief rally" across global financial assets and reigniting investor interest in cryptocurrencies. If geopolitical uncertainties are somewhat resolved, the potential for further cryptocurrency market growth is worth noting.
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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.
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