The cryptocurrency market recorded a strong recovery on Tuesday following an unexpected ceasefire between Israel and Iran, announced by former U.S. President Donald Trump. Bitcoin gained 2%, climbing from $104,000 to $106,000, while Ethereum surged 6%, XRP advanced by 5%, and Solana rose 3%, according to Binance data. Overall, the global crypto market value jumped overnight from $3.19 trillion to $3.27 trillion.
Trump announced Truth Social, stating that Israel and Iran had reached a “complete and total ceasefire,” adding the agreement was already in effect by Tuesday morning. His comments helped calm investor fears after days of rising geopolitical tension that had previously shaken the market.
Earlier this month, conflict erupted after a UN-backed watchdog accused Iran of violating nuclear safety rules. Israel responded with airstrikes on June 13 targeting Iranian nuclear sites, killing top officials. Iran retaliated, escalating the situation. Over the weekend, Trump disclosed that the U.S. had bombed three Iranian nuclear sites, leading to a sharp selloff in crypto markets. Bitcoin dropped below $100,000 on Sunday—its lowest level over a month.
Despite Trump warning both countries on Tuesday for alleged truce violations, digital assets remained stable. David Siemer, CEO of Wave Digital Assets, described the crypto rebound as a response to easing fears and renewed investor confidence.
While the long-term outcome of the ceasefire remains uncertain, market players are cautiously optimistic. Analysts suggest further volatility is possible, but traders are responding positively to the break in the conflict.
