Bitcoin Rises Amid Eased Middle East Tensions

The price of the leading cryptocurrency has surged past $105,000 following a statement by U.S. President Donald Trump regarding the prospects of ending the Middle East conflict.

According to him, Iran and Israel have fully agreed to a ceasefire, which will take effect within 24 hours.

“I would like to congratulate both countries for having the endurance, courage, and intelligence to put an end to what should be called the ‘12-day war’,” Trump wrote on the social network Truth Social.

On the night of June 21-22, Bitcoin’s price plummeted to $100,000 following U.S. strikes on Iran’s nuclear facilities. In anticipation of a potential response involving the blockade of the Strait of Hormuz, the price of digital gold dipped below the significant mark.

Iran’s reaction resulted in the shelling of the U.S. Al Udeid Air Base in Qatar with a dozen rockets, all but one of which were intercepted. Reports indicate that the adversary had notified of the attack in advance, aircraft were evacuated from the site beforehand, and the assault caused no casualties or even injuries to personnel.

In the past 24 hours, Bitcoin’s price has risen by $3,700. At the time of writing, the asset is trading at $105,700.

The price of Ethereum has climbed above $2,400, gaining 7.3% in 24 hours. Solana increased by 8.6%, and Dogecoin by 8%. However, on a weekly timeframe, all top-10 altcoins by market capitalization lagged behind the leading cryptocurrency in terms of dynamics.

The total market volume grew by 2.8% in a day, approaching $3.4 trillion. Bitcoin’s dominance stands at 62.1%.

According to Coinglass, the volume of liquidations in the past 24 hours reached $470 million. A roughly equal amount was attributed to BTC and Ethereum — around $148 million each.

The cryptocurrency fear and greed index has risen from the neutral zone to 65, indicating positive investor sentiment.

Vincent Liu, Chief Investment Officer at Kronos Research, commented to The Block that the market will now watch to see if the growth spurred by peace agreements will transition into a more prolonged bull trend.

“The focus shifts towards continuation: are institutions buying ETFs, how are trade negotiations unfolding, and is the dollar strengthening? The ceasefire ignited the spark, but macro signals will sustain it,” the expert concluded.

Technical indicators suggest the potential for Bitcoin to rise to $130,000 in the third quarter.