Bitcoin, Ether, and XRP Soar After Trump Announces Ceasefire
The crypto market surged sharply on Monday night, pushing Bitcoin above $105,000 after Donald Trump announced a ceasefire between Iran and Israel. This news quickly changed how investors felt about the market. But is this excitement likely to last, given the still-tense geopolitical situation?
In a command room, Donald Trump presses a large Bitcoin button as a radar shows sharp rises in Bitcoin, XRP, and Ethereum.
In summary: Bitcoin hit $105,000 after the announcement of a ceasefire between Israel and Iran. Ethereum and XRP also gained significantly following the easing of tensions. Market volatility increased due to the ongoing tensions in the Middle East, leading to large liquidations.
The Trump effect: geopolitical news boosts cryptocurrencies On Monday evening, Donald Trump caused markets to jump with a single post. On his Truth Social account, he said that "Israel and Iran have fully agreed to a complete and total ceasefire."
This unexpected statement sent Bitcoin soaring past $105,000 and wiped out the losses from the weekend’s dip below $100,000.
Investors responded quickly. Within hours, Bitcoin rose about 5%, nearly regaining its value before the drop on Sunday.
This strong bounce shows how eager investors are to buy risky assets when tensions in the region ease.
The recent military actions had weighed heavily on the markets. The US attacked Iranian nuclear sites on Saturday. Iran responded with an attack on the Al Udeid base in Qatar, called Besharat al-Faith. Explosions could be seen above Doha, which shook investors, even though no one was hurt or things damaged.
This optimism is not just for Bitcoin. The whole crypto market is riding this bullish wave. Ethereum went up 9%, reaching $2,408. It was trying to recover from a 10% drop earlier this week. Solana gained even more, with an 11% rise, and Dogecoin increased by 10%.
But with the rise, volatility also grew. Data from CoinGlass shows that about $491 million worth of crypto holdings were liquidated in just 24 hours.
Most of these liquidations were short positions, totaling around $376 million. This shows that many bets on falling prices were wiped out during the rally.
Bitcoin saw about $161 million in liquidations, while Ethereum lost around $140 million. These numbers show how sharp and unpredictable price moves can be in a tense political climate.