Cryptocurrency prices saw a major boost on Monday evening after U.S. President Donald Trump announced that Iran and Israel had agreed to a ceasefire. The news brought some relief to global markets, especially the crypto market, which had been rattled by recent geopolitical tensions.
In a post on Truth Social, Trump wrote, “It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE… for 12 hours, at which point the War will be considered, ENDED!” He added that the ceasefire would begin once both sides complete their ongoing missions, expected within six hours.
Bitcoin Breaks Above $105K
Following Trump’s statement, Bitcoin surged past $105,000, marking a 5% gain on the day. As of now, Bitcoin is trading around $105,550, nearly recovering all of its losses from the weekend. The cryptocurrency had dipped below $100,000 on Sunday after the U.S. carried out airstrikes on Iran’s nuclear sites, but it quickly began rebounding.
The renewed optimism in the market appears to be tied to hopes of de-escalation in the Middle East. On Monday, Iran launched a retaliatory strike on U.S. military targets in Qatar. The operation, named “Besharat al-Faith,” targeted Al Udeid Air Base—the largest U.S. base in the region. Despite the attack, both U.S. and Qatari officials reported that the missiles were intercepted and no damage or injuries occurred.
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Crypto Market Rallies on Peace Talks
The potential ceasefire has sparked a broader rally across the crypto market. Ethereum jumped to $2,408, up 9% over the last 24 hours after falling sharply on Sunday. Solana is up 11%, while XRP and Cardano have each gained 9%. Dogecoin also surged 10% amid the renewed market confidence.
The sudden price jumps have caused a wave of crypto liquidations, with over $491 million in positions wiped out in the past 24 hours. According to CoinGlass, $376 million of that came from short positions. Bitcoin saw the most liquidations at $161 million, followed by Ethereum at $140 million.
Prediction Markets Stay Bullish on Bitcoin
Prediction market platform Myriad, operated by Decrypt’s parent company DASTAN, now shows a 79% chance that Bitcoin will remain above $100,000 through June 27. Traders appear to be betting on continued price stability—at least for now—thanks to the pause in military action.
With tensions easing between Iran and Israel and investor confidence returning, cryptocurrencies like Bitcoin, Ethereum, and XRP are enjoying a strong bounce. Whether this momentum holds depends on whether the ceasefire truly sticks—but for now, the crypto market is back in the green.
