Bitcoin (BTC) and Ethereum (ETH) prices skyrocketed in a dramatic late-day surge after a surprise announcement from US President Donald Trump claiming a “complete and total” ceasefire between Israel and Iran. After Trump confirmed the ceasefire is “in effect,” Bitcoin jumped nearly 4% and Ethereum 8%.
Trump’s Israel-Iran Ceasefire Claim Sends Bitcoin, Ethereum Prices Soaring
In a surprising announcement, US President Donald Trump declared a ceasefire agreement between Israel and Iran. This development follows direct conversations between Trump, Israeli Prime Minister Benjamin Netanyahu, and Iranian officials, facilitated by Qatar’s mediation. In a Truth Social post, Trump stated, “It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now).” The President added,
On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, “THE 12 DAY WAR.” This is a War that could have gone on for years, and destroyed the entire Middle East, but it didn’t, and never will!
In a subsequent post, Trump confirmed that the ceasefire is now in effect. His Truth Social post read, “THE CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT! DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES!”
Bitcoin Price Surges Past $105K
In response to Trump’s Israel-Iran Ceasefire announcement, the Bitcoin price hit a high of $106k. Though the price dipped soon, BTC is currently valued at $105,818, up 3.96% over the past 24 hours. However, the pioneer cryptocurrency is still in the red zone on a monthly and weekly basis. Despite this, BTC is exhibiting a positive sentiment with a 3% gain in trading volume, currently at $65.8 billion.
Ethereum Price Sees 8% Uptick
The Ethereum price has seen a more notable uptick than BTC following Trump’s Ceasefire claim. At press time, ETH is trading at $2,426, up 7.8% in a day. Despite this daily hike, ETH has seen notable dips of 6% and 4% over the past week and month, respectively. The trading volume has surged by more than 6% to hit $25.69 billion.
Global Powers Praise Trump’s Peace Deal
Following Trump’s announcement, the Israeli government confirmed that it has agreed to a US-brokered ceasefire proposal with Iran. After two weeks of military conflict and a related Nobitex crypto exchange hack, Israel and Iran have agreed to the peace deal. The government cited,
Israel thanks President Trump and the United States for their support in defense and their participation in eliminating the Iranian nuclear threat…In light of achieving the objectives of the operation, and in full coordination with President Trump, Israel has agreed to the president’s proposal for a bilateral cease-fire.
Meanwhile, Former US Ambassador to Iraq James Jeffrey believes the ceasefire proposal between Israel and Iran is moving in a positive direction, despite initial confusion. He noted,
Over the past 50 years … I’ve seen a dozen ceasefires. They’re all messy. Not all the troops get the orders … The timelines are [often] wrong. This confusion is normal confusion, but it’s clear that it’s moving in a very, very positive direction given what the Iranian foreign minister has said.
Significantly, world powers welcome this surprising Israel-Iran Ceasefire, deeming it a “positive” development. For instance, German Chancellor Friedrich Merz has welcomed the deal, describing its potential success as a “very positive development”. He thanked Qatar for its role in mediating the ceasefire in the “dramatic” conflict between Israel and Iran.
Nynu V Jamal
Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape.
Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master’s degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet.
Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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