6 hours ago
Crypto markets bounced backmost successful aboriginal Asian trading hours connected June 24, sparked by US President Donald Trump’s announcement that a ceasefire had been reached betwixt Israel and Iran.
On June 24, Trump posted connected Truth Social:
“CONGRATULATIONS TO EVERYONE! It has been afloat agreed by and betwixt Israel and Iran that determination volition beryllium a Complete and Total CEASEFIRE.”
This unexpected improvement helped reverse losses successful the crypto market and triggered a swift surge successful the worth of large integer assets.
According to CryptoSlate’s data, Bitcoin led the rebound, rising 3% to reclaim levels supra $105,000, a fewer days aft concisely dipping beneath the $100,000 threshold.
Other apical 10 integer assets by marketplace capitalization posted adjacent stronger gains, with Ethereum (ETH), Cardano (ADA), and Dogecoin (DOGE) climbing 6% to $2,417, $0.58, and $0.16, respectively.
Notably, Solana (SOL) and XRP outperformed the broader market, climbing implicit 7% each. Solana touched implicit $144, portion XRP traded astatine $2.18 arsenic of property time.
Meanwhile, the abrupt terms spike caught galore abbreviated sellers disconnected guard, and implicit $370 cardinal worthy of abbreviated positions were liquidated crossed the crypto market.
Crypto Market Liquidation Heatmap (Source: CoinGlass)Traders betting against Ethereum suffered the most, with liquidations topping $119 million. Losses from abbreviated positions successful large altcoins similar Solana, XRP, and Cardano added much than $40 cardinal to the tally.
Market analysts accidental the accelerated effect highlights however intimately integer assets respond to geopolitical events.
Valentin Fournier, a pb expert astatine BRN, told CryptoSlate that Trump’s ceasefire assertion shifted capitalist sentiment astir instantly, adjacent though neither state progressive had issued ceremonial confirmation.
Fournier cautioned that portion markets are rallying connected the ceasefire news, akin truces person historically been short-lived. Still, helium noted that the crisp rebound shows fearfulness whitethorn person reached its highest and that galore altcoins could beryllium poised for further gains if tensions stay contained.
He noted:
“Our overweight connected Solana paid off, arsenic it outperformed some BTC and ETH, confirming its relation arsenic a precocious beta person successful betterment phases.”
The station XRP leads crypto marketplace rally arsenic Iran-Israel’s tentative ceasefire lifts sentiment appeared archetypal connected CryptoSlate.
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