24.06.2025 05:44
Following a tumultuous 72-hour period of volatile price fluctuations in the cryptocurrency market, bitcoin experienced a significant surge on Monday afternoon. This dramatic upswing was triggered by a statement from President Trump on Truth Social, announcing a comprehensive ceasefire between Iran and Israel. His post declared a "complete and total" cessation of hostilities, expected to take effect within approximately six hours.
Bitcoin's price, already showing signs of recovery earlier in the day, reacted swiftly to Trump's announcement. A near 3% increase propelled it beyond the $106,000 mark, a remarkable rebound from its earlier low of $98,500 just 24 hours prior. Although subsequently retracting slightly to around $105,300, the price remained significantly higher. This bullish trend mirrored gains in the broader market, with US stock index futures registering approximately 0.5% gains across the board. Furthermore, the price of crude oil dropped considerably, falling to $65 per barrel after reaching a high of $75 earlier in the day.
The cryptocurrency market displayed notable enthusiasm, far surpassing the reaction in traditional markets. Several prominent altcoins, including ether, XRP, and solana, experienced even more dramatic gains, ranging from 8% to 10%. Initial uncertainty surrounding the veracity of the ceasefire agreement quickly dissipated, however, as Reuters subsequently reported confirmation from a senior Iranian official affirming Tehran's acceptance of a proposed truce with Israel. This confirmation solidified the market's positive response.
The rapid price movements highlighted the cryptocurrency market's sensitivity to geopolitical events and the significant influence of social media pronouncements from prominent figures. While initial reports caused considerable volatility, subsequent confirmation from reputable news sources reinforced the bullish sentiment driving bitcoin and other cryptocurrencies to impressive new highs. The information used in this report came from various internet sources.
