Crypto Market Rallies as Trump Announces Israel-Iran Ceasefire
Risk assets saw a rally on Tuesday following U.S. President Donald Trump's announcement of a ceasefire between Israel and Iran. Key points include:
- Trump stated Iran will initiate a ceasefire, with Israel to follow after 12 hours.
- Major cryptocurrencies such as ETH, SOL, and ADA increased by approximately 7%.
- ETH rose above $2,400, SOL surpassed $140, and ADA exceeded 50 cents.
- Crypto trading volumes rebounded after nearly $600 million in long liquidations over the weekend.
- Other cryptocurrencies like XRP, BNB, and DOGE gained between 4%-6%.
- The CoinDesk 20 index rose over 3% amid improved macro conditions, despite lack of formal confirmation of the ceasefire.
- Bitcoin (BTC) remains near $105,000, showing resilience against geopolitical volatility.
- Institutional inflows and ETF demand are reportedly increasing, suggesting BTC's evolving role as a macro hedge.
- Traders express caution regarding potential profit-taking, particularly in overheated tokens like ETH.