Crypto shoots higher on Iran/Israel agreement
President Trump claimed a “complete and total” ceasefire between Iran and Israel to begin in several hours.
What to know:
- President Trump announced a ceasefire between Israel and Iran.
- Crypto prices shot higher on the news, with bitcoin retaking the $106,000 level.
- Reuters reported a senior Iranian official as confirming President Trump’s claim.
A wild 72-hours of price swings continued in crypto late in the U.S. day on Monday after President Trump took to Truth Social to proclaim a “complete and total” ceasefire between Iran and Israel.
“It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now),” wrote Trump.
Already bouncing in afternoon action, bitcoin BTC$104,804.47 rose nearly another 3% on the news, topping $106,000 after having plunged to as low as $98,500 not much more than 24 hours ago. At press time, the price had pulled back a bit to $105,300.
U.S. stock index futures posted gains of about 0.5% across the board and the price of crude oil tumbled further to just $65 per barrel after topping $75 earlier today.
The move in some altcoins was more dramatic, with ether ETH$2,396.24, XRP XRP$2.15 and solana SOL$143.06 among those sporting 8%-10% gains.
In the minutes following the president’s announcement there was some confusion as to whether there was indeed a ceasefire agreement, but Reuters is now reporting a senior Iranian official as saying Tehran has agreed to a proposed ceasefire with Israel.
