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International Business Times
8 hours ago
- Business
- International Business Times
Bitcoin Surges Past $106K as Ceasefire Hopes Ease Market Jitters, Institutional Bets Climb
The cryptocurrency market saw a sharp turnaround on Monday, June 24, 2025, as Bitcoin (BTC) surged past the $106,000 mark following news of a possible ceasefire between Iran and Israel. Investor confidence returned after a tense week marked by Middle East instability and macroeconomic unease. The digital asset settled around $103,127.30 across leading platforms, with analysts attributing the rally to a sudden shift in global sentiment. According to data from CoinMarketCap, BTC touched a daily high of $103,889.77 with a trading volume exceeding $60 billion. CryptoCompare recorded a peak at $105,209.86, while CoinDesk noted a brief dip below $103,400—underscoring pricing differences across platforms due to varying liquidity levels. Last week's decline saw Bitcoin tumble from $111,953.60 to as low as $98,249.20. Escalating conflict in the Middle East and U.S. military activity spurred a wave of risk aversion, causing a retreat into traditional safe-haven assets like the U.S. dollar and treasury bonds. Market sentiment, however, reversed rapidly after former U.S. President Donald Trump claimed to have mediated a truce between Iran and Israel. His announcement reignited crypto enthusiasm, with BTC forming a strong bullish candle and temporarily breaching $106,000, as reported by CoinDCX analysts. The positive momentum wasn't limited to Bitcoin. Altcoins joined the rally, with SEI surging 35% and meme-based tokens such as WIF and SPX jumping over 20%. The broader market saw green across the board, indicating renewed investor appetite for digital assets. Adding to the upbeat mood, U.S. regulatory authorities reportedly removed a long-standing clause related to "reputational risk," a measure that had deterred banks from entering the digital asset space. Analysts view this as a pivotal step toward deeper institutional integration within the crypto ecosystem. Institutional players also made bold moves. MicroStrategy's Michael Saylor revealed a fresh $26 million BTC acquisition at an average price of $105.8K, bringing the company's holdings to 592,345 BTC—valued at approximately $41.87 billion. Meanwhile, European firm The Blockchain Group added 75 BTC to its reserves, reinforcing confidence in crypto as a strategic asset. U.S.-listed spot Bitcoin ETFs recorded $350 million in net inflows, while Ethereum-based ETFs attracted an additional $101 million, with no outflows reported. These figures highlight robust investor conviction despite lingering concerns around volatility. Analysts warn, however, that crypto's bullish run hinges on sustained peace in the Middle East and regulatory clarity. For now, investor focus remains trained on diplomatic outcomes and central bank policy cues, which will likely shape the market's next big move.
News18
20 hours ago
- Business
- News18
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 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%. News business » cryptocurrency Bitcoin Surges 4% Amid Iran-Israel Ceasefire Talks, Hits $106K Briefly
