Crypto prices spiked early Monday evening as President Donald Trump said on social media that Iran and Israel have agreed to a ceasefire, purportedly putting an end to days of bombing.
“CONGRATULATIONS TO EVERYONE!” Trump wrote on Truth Social. “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, when Israel and Iran have wound down and completed their in progress, final missions!), for 12 hours, at which point the War will be considered, ENDED!”
Bitcoin is up 5% on the day, topping $105,000 following a sudden surge after Trump’s announcement.
It’s currently priced at $105,550, almost fully recovering to the asset’s price on Friday, before its decline over the weekend, CoinGecko data shows.
The price of the leading crypto had fallen below $100,000 on Sunday, after U.S. forces bombed Iran nuclear sites late Saturday, but had started recovering and returned over that mark by the end of the weekend.
On Monday, Iran hit back at military targets in Qatar.
Iran described the strikes as a “mighty and victorious” retaliation to U.S. bombings on its nuclear facilities.
The nation’s Islamic Revolutionary Guard Corps said the operation, dubbed “Besharat al-Faith,” targeted Al Udeid Air Base in Qatar, the largest U.S. military installation in the region.
Residents in Doha reported visible interceptor activity and explosions overhead. Qatari officials said all incoming missiles were successfully neutralized. U.S. and Qatari authorities reported no damage to the base and no casualties.
Tensions ease
With a potential end to flaring tensions, users of the prediction market Myriad expect Bitcoin to remain above the $100,000 mark, forecasting a 79% chance that it will stay above that price by the end of the day on June 27.
(Disclosure: Myriad is a product of Decrypt’s parent company, DASTAN.)
Other top assets, such as Ethereum, XRP, and Solana, are also rising following the news of a possible ceasefire between Iran and Israel.
Ethereum is up to $2,408, rising 9% over the last day after showing a 10% dive early Sunday. Solana is up 11% on the day, with Dogecoin rising 10% and XRP and Cardano both up 9% during that span.
Crypto liquidations are piling up again, with asset prices on the rise on Monday, a sign of heightened volatility as traders reassess the risks in the Middle East.
Roughly $491 million worth of crypto positions have been liquidated over the last 24 hours, with short positions accounting for $376 million, according to CoinGlass data.
Bitcoin accounts for the largest share of liquidations, at $161 million, with Ethereum not far behind at $140 million.
Edited by Sebastian Sinclair
Editor’s note: This story was updated after publication with additional details.
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