Bitcoin and the overall crypto market saw a notable rebound on Tuesday after President Trump declared a ceasefire between Israel and Iran. Following the announcement, Bitcoin's price increased by 2%, while major cryptocurrencies like Ethereum, Solana, and XRP also recorded significant gains. The collective market cap for cryptocurrencies rose from $3.19 trillion to $3.27 trillion. Despite Trump's criticisms of both nations for violating the truce, the market showed resilience, attributing the gains to diminished geopolitical tensions. The situation escalated after a UN report raised concerns over Iran's nuclear activities, prompting Israel's military actions.
It has been fully agreed by and between Israel and Iran that there will be a complete and total ceasefire. The ceasefire was now in effect.
We're seeing Bitcoin surge back to $105,000 and other major currencies like Ethereum, Solana, and XRP showing strong rallies of their own. This is largely due to easing tensions in the Middle East after the U.S.-brokered ceasefire.
Despite any diplomatic hiccups, cryptocurrencies ignored the warnings from Trump and remained strong.
The threat of all-out war between the two nations grew in recent weeks, following a UN report on Iran's nuclear compliance.
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