The cryptocurrency market showed growth following news of a potential ceasefire between Israel and Iran. U.S. President Donald Trump announced a peace agreement, positively influencing financial assets.
News of Potential Ceasefire
On June 24, Trump stated that Israel and Iran had agreed to cease hostilities after 12 days of conflict. However, Israel has yet to confirm the agreement, and missiles were reportedly launched from Iran that same day.
Market Reaction
The market reacted positively to the news. The global cryptocurrency market capitalization increased by 2.4% to $3.35 trillion. Bitcoin rose 3.7% to $105,000, while Ethereum surged 7% to $2,396. Solana and XRP also posted strong gains of 7% and 6%, respectively.
Outlook and Analysis
Traders are showing cautious optimism regarding the potential de-escalation. Trump claimed the ceasefire was brokered in conjunction with Israeli Prime Minister Benjamin Netanyahu and mediated through Qatari and U.S. diplomatic channels. However, Iranian officials have not confirmed a full commitment to halting attacks.
The cryptocurrency market shows signs of recovery following news of a potential ceasefire between Israel and Iran, but traders remain cautious, awaiting confirmation of the peace agreement.
