Bitcoin and Ethereum prices surge as Trump confirms Israel-Iran ceasefire, boosting crypto market confidence and risk-on sentiment.
The prices of Bitcoin (BTC) and Ethereum (ETH) experienced a significant late-day increase following a surprise announcement from US President Donald Trump, who claimed a “complete and total” ceasefire between Israel and Iran. The price of Bitcoin and Ethereum increased by nearly 4% and 8%, respectively, following Trump’s confirmation that the truce is “in effect.”
Trump’s assertion that Israel and Iran have reached a ceasefire has resulted in a significant increase in the prices of Bitcoin and Ethereum.
US President Donald Trump unexpectedly announced a ceasefire agreement between Iran and Israel. This development is the result of direct interactions between Iranian officials, Israeli Prime Minister Benjamin Netanyahu, and Trump, which were facilitated by Qatar’s mediation. In a post on Truth Social, Trump declared, “It has been fully agreed upon by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now).” Additionally, the President stated,
On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, “THE 12 DAY WAR.” This is a War that could have gone on for years, and destroyed the entire Middle East, but it didn’t, and never will!
In a subsequent post, Trump verified that the armistice was currently in effect. His post on Truth Social stated, “THE CEASEFIRE IS NOW IN EFFECT.” Kindly refrain from violating it. DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES!
Bitcoin Price Exceeds $105K
The Bitcoin price reached a high of $106k in response to Trump’s announcement of the Israel-Iran Ceasefire. Although the price experienced a brief decline, BTC is currently valued at $105,818, representing a 3.96% increase in the past 24 hours. As a result, the pioneering cryptocurrency remains in the red zone monthly and weekly. However, BTC is presently trading at $65.8 billion, reflecting a positive sentiment, as evidenced by a 3% increase in turnover.
The price of Ethereum experiences an 8% increase
The price of Ethereum has experienced a more substantial increase than that of BTC due to Trump’s Ceasefire declaration. ETH is trading at $2,426 at publication, representing a 7.8% increase in a single day. Despite this daily increase, ETH has experienced significant declines of 6% and 4% over the past week and month. The trading volume has increased by over 6% to $25.69 billion.
Global powers praise Trump’s peace agreement
The Israeli government has verified its agreement to a ceasefire proposal with Iran that the United States facilitated in response to Trump’s announcement. A peace agreement has been reached between Israel and Iran following two weeks of military conflict and a subsequent breach of the Nobitex crypto exchange. The authorities cited,
Israel thanks President Trump and the United States for their support in defense and their participation in eliminating the Iranian nuclear threat…In light of achieving the objectives of the operation, and in full coordination with President Trump, Israel has agreed to the president’s proposal for a bilateral cease-fire.
In the interim, James Jeffrey, the former US Ambassador to Iraq, believes that the armistice proposal between Israel and Iran is progressing positively despite the initial confusion. He observed,
Over the past 50 years … I’ve seen a dozen ceasefires. They’re all messy. Not all the troops get the orders … The timelines are [often] wrong. This confusion is normal confusion, but it’s clear that it’s moving in a very, very positive direction given what the Iranian foreign minister has said.
World powers have welcomed the unexpected Israel-Iran Ceasefire as a significant development, describing it as a “positive” development. For example, German Chancellor Friedrich Merz has expressed his enthusiasm for the agreement, referring to its potential for success as a “very positive development.” He expressed his gratitude to Qatar for its assistance in mediating the armistice in the “dramatic” conflict between Israel and Iran.