Cryptocurrency Prices Surge Following Trump’s Ceasefire Announcement

Cryptocurrency values soared as President Trump announced a ceasefire agreement between Iran and Israel. Bitcoin jumped to over $105,000, recovering from a weekend dip. Ethereum, Solana, XRP, and other cryptos also saw significant price increases. However, significant liquidations, especially in short positions, were reported as $473 million vanished in 24 hours, showcasing ongoing market volatility.

Cryptocurrency prices saw a significant uptick on Monday evening, following an announcement from President Donald Trump regarding a ceasefire agreement between Iran and Israel. On social media, Trump declared, “CONGRATULATIONS TO EVERYONE!” and stated, “It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE… for 12 hours,” aimed at concluding the recent hostilities.

Following this announcement, Bitcoin experienced a sharp increase of 5%, reaching approximately $105,550. This surge has nearly restored Bitcoin’s value from Friday’s figures, representing recovery after a dip below $100,000 on Sunday, triggered by U.S. military actions. Shortly after the ceasefire announcement, Bitcoin’s price rose notably, buoying investors’ hopes.

In the background of these developments, market expectations around Bitcoin’s performance show optimism. Users of the prediction market Myriad project a 79% probability that Bitcoin will maintain prices above $100,000 by the end of the upcoming day. (Note: Myriad operates under Decrypt’s parent organization, DASTAN.)

Alongside Bitcoin, other cryptocurrencies also followed suit, experiencing gains in the wake of Trump’s announcement. Ethereum climbed to $2,408, reflecting a 9% increase over the previous day, bouncing back from a recent 10% plunge. Solana surged by 11%, while Dogecoin followed with a 10% gain. XRP and Cardano also saw a 9% increase each, reflecting a broader positive trend in the cryptocurrency market.

However, despite the price increases, the crypto landscape remains turbulent. Data from CoinGlass indicated that over the past 24 hours, around $473 million in crypto positions were liquidated, driven primarily by a strong influx of short positions. Bitcoin accounted for $161 million of this total, with Ethereum closely shadowing it at $140 million, highlighting the volatility that continues to affect the market.

The article has been updated to include additional details as the situation progresses, highlighting the dynamic nature of cryptocurrency investments amid geopolitical events.