Bitcoin Surges 4% Amid Iran-Israel Ceasefire Talks, Hits $106K Briefly
Bitcoin spiked to $105,209.86 before dipping below $103,400. Weekly, BTC fell 4.40% due to geopolitical tensions. A ceasefire announcement renewed bullish sentiment.
Bitcoin Price: Bitcoin (BTC) showed notable volatility over the past 24 hours, briefly spiking to $105,209.86—a 4.20% jump, according to real-time data from CryptoCompare. Other platforms reported varying figures, with CoinDesk noting a dip below $103,400 before BTC rebounded to $103,127.30, reflecting a 3.65% increase. CoinMarketCap pegged the price at $103,889.77, up 5.36%, with a 24-hour trading volume of $60.43 billion. These variations highlight the ongoing price sensitivity and liquidity differences across major exchanges.
The past week hasn't been easy for Bitcoin. As per CoinGecko, BTC saw a 4.40% weekly decline, tumbling from around $111,953.60 to a low of $98,249.20, as reported by Investing.com. Analysts attribute the drop to rising macroeconomic tensions and geopolitical uncertainty—particularly heightened conflict in the Middle East. Reports of U.S. airstrikes in Iran triggered risk-off sentiment, pushing investors toward traditional safe-haven assets like the U.S. dollar and treasuries, as noted by Cointelegraph and various X (formerly Twitter) commentators.
However, the tide turned after former U.S. President Donald Trump reportedly announced a ceasefire between Iran and Israel. According to the CoinDCX research team, this triggered renewed bullish sentiment, with Bitcoin surging past $106K briefly, forming a strong bullish candle. While most top altcoins saw mild gains, smaller tokens like SEI jumped nearly 35%, with WIF and SPX also rising over 20%.
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