Bitcoin Surges Above $106,000 Following Iran-Israel Ceasefire Announcement
Bitcoin rose above $106,000 after a volatile weekend, driven by a ceasefire agreement between Iran and Israel. President Trump announced the truce, contributing to a nearly 3% increase in Bitcoin's value from a low of $98,500.
Market Reactions
- US stock index futures increased by 0.5%
- Oil prices dropped to $65 per barrel
- Major altcoins like Ether, XRP, and Solana gained 8-10%
Despite initial skepticism about the ceasefire, confirmation came from Iranian officials. On-chain data indicated increased investor activity with a 29% rise in Loss Sellers since June 10, yet Conviction Buyers also grew, indicating stable sentiment.
Liquidity and Institutional Interest
- Federal Reserve governors signaled potential rate cuts, boosting risk appetite
- Falling oil prices reduced inflation concerns
- Digital asset funds saw inflows of $1.24 billion, predominantly into Bitcoin
This brings Bitcoin’s year-to-date inflows to $12.7 billion, suggesting a resilient market as investors continue to buy during dips.