- Bitcoin surged to $105K after Trump announced a ceasefire between Iran and Israel.
- Ethereum rose 9% to $2,415 as altcoins rallied on easing Middle East tensions.
- $491M in crypto liquidations occurred, with $376M from short positions as prices rebounded.
The cryptocurrency market surged early Tuesday after U.S. President Donald Trump announced that Iran and Israel had agreed to a ceasefire. The news came after a weekend of intense geopolitical tension and military strikes, which had caused major cryptocurrencies to dip sharply. Bitcoin led the rebound, gaining over 5% to reclaim the $105,000 mark, while top altcoins followed with even sharper upward moves.
According to data from CoinGecko, Bitcoin’s price reached $105,550 following the announcement, nearly regaining its pre-weekend levels. The asset had fallen below $100,000 on Sunday after reports emerged of U.S. airstrikes on Iranian nuclear targets. On Monday, Iran responded by launching a missile into U.S. military bases in Qatar, which did not result in any damage or loss of life.
Altcoins Post Strong Gains as Traders Rotate In
Ethereum, Solana, XRP, and Dogecoin all posted significant gains after Trump’s ceasefire post on Truth Social. Ethereum rose to $2,415, marking a 9% daily gain. Solana climbed to $143.75, rising 11%, while XRP added 9% and Cardano advanced to $0.581. Trading volumes also rebounded across major exchanges after a wave of liquidations triggered by weekend uncertainty.
According to Coinglass, over $491 million in crypto positions were liquidated in the last 24 hours. Short trades accounted for $376 million of that, with Bitcoin and Ethereum bearing the brunt. The number of Bitcoin liquidations was $161 million, and Ethereum recorded a loss of $140 million. The surge in prices triggered forced closures, fueling further upward pressure.
Meanwhile, the CoinDesk 20 Index, which tracks the highest-performing tokens, had increased by more than 3%. The sudden rotation towards altcoins signals a renewed risk appetite following the geopolitical relief. Nevertheless, some warned that price corrections may follow if profit-taking sets in.
Related: Bitcoin Rebounds to $105K; Can This Leg Take BTC Above 110K?
Bitcoin Holds Steady as Institutional Demand Persists
Bitcoin is trading around the $105,000 level, resting just below a significant resistance. According to analysts, the persistence of institutional interest and consistent demand for ETFs are among the factors driving the current price range. Kay Lu, the CEO of HashKey Eco Labs, stated that Bitcoin’s ability to stay above $100,000 demonstrates its resilience in the face of macroeconomic uncertainty.
Traders have also noticed that Bitcoin is starting to exhibit decoupling tendencies with conventional risk-off assets. The S&P 500 and oil prices showed weak responses, while Bitcoin stood its ground. Additionally, Brent crude dropped 1.8%, and U.S. futures markets were flat after opening. This contrast indicates an increasing confidence in Bitcoin as a macro hedge, especially as corporate treasuries continue to consider crypto allocations.
