TLDR:
- Event: As of June 24, 2025, U.S. President Donald Trump announced a ceasefire between Iran and Israel, ending a 12-day conflict, which has led to a recovery in the crypto market, with Bitcoin surging 4.5% to $106,000.
- Context: The ceasefire follows intense military actions, including U.S. strikes on Iranian nuclear facilities, with significant casualties reported. The de-escalation has also seen oil prices drop by 10%, boosting market sentiment and aiding crypto recovery.
Early on June 24, 2025, U.S. President Donald Trump declared that Iran and Israel had reached a ceasefire agreement, marking the end of a 12-day conflict that had escalated tensions in the Middle East. According to Trump, both sides will cease military activities starting at 11:00 AM on June 24 (Hanoi time), bringing a semblance of peace to the region.
The conflict, which began with Israel’s preemptive strike on Tehran’s capital, killing several high-ranking officials, escalated through missile exchanges and reached a peak when the U.S. deployed bombers to strike three Iranian nuclear facilities over the weekend. Late on June 23, Iran retaliated by launching missiles at U.S. military bases in Iraq and Qatar, but Trump stated that no significant damage was incurred. The toll of the “12-Day War” is staggering, with an estimated 430 deaths and over 3,500 injuries in Iran, and 25 deaths with more than 2,500 injuries in Israel.
Trump’s announcement, captured in images from Reuters, was met with relief, as he proclaimed, “Congratulations to the world, it’s time for peace.” The White House reiterated previous statements that the U.S. strikes had severely damaged Iran’s nuclear facilities, halting uranium enrichment processes, though the duration of this interruption remains unclear.
The ceasefire news had an immediate impact on global markets. Oil prices, which had been a focal point of concern due to Iran’s threats to block the Strait of Hormuz, dropped by 10%, returning to pre-conflict levels as rumors of the ceasefire circulated. This de-escalation alleviated fears of prolonged oil supply disruptions, which had previously driven prices towards $130 per barrel, as warned by JPMorgan.
The crypto market, which had been volatile due to the conflict, responded positively. Bitcoin, which had briefly sunk below $99,000 due to the initial escalation, surged more than 4.5% to $106,000, reclaiming levels seen before the U.S. strikes on Iran. This recovery is reflective of Bitcoin’s robustness as an inflation hedge, even though it has been following tech stocks’ trend in recent correlations. The rest of the altcoins also recovered, bouncing 10-20%, though they are not back to pre-conflict levels yet.
The timing of the ceasefire, as an episode of peak geopolitical danger recedes, has provided a boost to market sentiment. The reaction of the cryptocurrency market is one of overall relief that the crisis is halted from gaining momentum further, with some bounce back of digital assets. Bitcoin’s $106,000 level, in particular, is a sign of stability, despite the market still adjusting to the aftermath of the “12-Day War.”
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