Bitcoin reclaims $105,000 after Trump announces Israel-Iran ceasefire

Bitcoin managed to recover his previous place above $ 105,000 following a miraculous rebound while tensions are cooling between Israel and Iran after the United States inaugurated a ceasefire.

According to data of crypto.News, BTC (BTC) has experienced a price overvoltage according to the news of a ceasefire between Israel And Iran. The largest cryptocurrency by market capitalization almost hit the threshold of $ 106,000, reaching up to $ 105,927 in the last 24 hours.

At the time of the press, BTC increased by 3.9% and is currently negotiated at a price of $ 105,302. Throughout last week, Bitcoin suffered from geopolitical events that struck between Israel, Iran and UNITED STATES. In recent days, the BTC fell into a collapse after the news of the American bombing three of the Iranian nuclear bases.

On June 22, the BTC experienced a sharp decline, lowering far beyond its previous peak of only $ 106,003 two days before. On June 23, Bitcoin reached its lowest point since May, going to $ 98,974.

BTC fell 1.2% last week and 3.6% in the past two weeks. Last month saw the cryptocurrency drop by almost 2%.

Not only is Bitcoin market capitalization also increased 3.24%, up to 2.09 billions of dollars after the recent price increase. In addition, the BTC trading volume also increased 6.9% compared to the day before, or $ 52.8 billion on the basis of current market prices.

Even the larger market capitalization experienced a 2.1% increase after the news in the ceasefire broke out, or 3.36 billions of dollars.

A cease-fire signal between Israel and Iran may have attenuated investors’ concerns for the moment. Cryptographic markets are often recovered quickly when geopolitical fears retreat. However, traders still have their eyes on the continuous conflict between Israel and Iran.

Despite the agreement agreed between the two countries, negotiated by Donald Trump and Qatar, the Israeli Minister of Defense Israel Katz accused Iran to have violated the ceasefire only two hours after the announcement of the agreement.

According to the BBC, despite Iran furiously denying the accusation, Israel plans to “forcefully responding to Iran’s violation of the ceasefire by the ceasefire with intense strikes” targeting the national capital in Iran. It remains to be seen if Israel will follow the threat, and how it will affect Bitcoin and the wider cryptography market.