Cryptocurrency 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 quick surge just now following Trump’s announcement. It’s currently priced at $105,550, almost fully returning to BTC’s Friday price ahead of weekend declines.
The price of the leading cryptocurrency 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.
Users of prediction market Myriad expect that Bitcoin will be able to remain above the $100,000 mark, forecasting a 79% chance that it stays 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 like Ethereum, XRP, and Solana are also rising following the news. 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 Monday. CoinGlass data shows $473 million worth of crypto positions “rekt” over the last 24 hours, dominated by $364 million worth of short positions. Bitcoin makes up the biggest chunk of liquidations at $161 million, with Ethereum not far behind at $140 million.
Editor’s note: This story was updated after publication with additional details.
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