Bitcoin Tops $106,000; Ethereum, Dogecoin Surge As Trump Announces Iran-Israel Ceasefire — Analyst Sees 23.6% BTC Spike If This Happens
Leading cryptocurrencies rallied Monday after President Donald Trump said Israel and Iran have agreed to a ceasefire to halt ongoing hostilities.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:10 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +4.29% | $105,196.74 |
| Ethereum (CRYPTO: ETH) |
+7.59% | $2,407.12 |
| Dogecoin (CRYPTO: DOGE) | +8.22% | $0.1639 |
What Happened: Bitcoin topped $106,000 in the evening before easing to around $105,000, marking a sharp recovery from the dip below $100,000 during the weekend.
Ethereum recorded a steeper rise, sailing above $2,400 following the drop to $2,100.
The rally came after Trump announced on Truth Social that Israel and Iran have agreed to a “complete and total ceasefire.” The cessation of hostilities would unfold in a phased manner, he added.
The spike hit bearish traders as over $365 million in short positions were wiped out from the cryptocurrency market in the last 24 hours. A further $280 million risked liquidation if Bitcoin reclaimed $110,000.
Bitcoin’s open interest rose 2.52%, while the funds locked in Ethereum’s derivatives contracts surged nearly 8% in the last …
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