Bitcoin has recovered to the $105,000 level again. This is due to the stabilization of the Middle East situation, which quickly revived investment sentiment.
On the 23rd (local time), when US President Donald Trump announced that Israel and Iran had agreed to a ceasefire, the Bitcoin price on the US cryptocurrency exchange 'Coinbase' rose to $105,429. This is a 4.64% increase in just one day.
On the 21st, when the US attacked Iran's nuclear facilities, Bitcoin had fallen below $100,000. At the time, as tensions spread across the Middle East, the Bitcoin price temporarily dropped to around $98,000.
However, as the Middle East risk subsided, Bitcoin and other major cryptocurrency prices quickly began to rebound. President Trump's comment that he "hopes this ceasefire will last forever" also gave a positive signal to the market.
Market expectations were directly transferred to other cryptocurrencies. Ethereum, the second-largest market cap, soared nearly 9% to $2,414, and XRP also rose 7.5% to $2.16. Solana and Dogecoin rose 9.88% and 8.82% respectively to $144 and $0.16, once again attracting investors' attention.
Cointelegraph analyzed that "although Bitcoin had fallen to early May levels, buying pressure around $98,000 triggered a rebound".
Another specialized media, The Covey Letter, diagnosed that "the market still sees this as a short-term conflict, in the sense that the world has not gone to the brink of World War III".
This rebound is interpreted as another example showing how quickly cryptocurrencies can recover even amid unstable geopolitical risks.
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