- Bitcoin is trading at $105,766, up 3.66% in the last 24 hours as per data from CMC.
- Earlier, massive selling occurred in crypto markets as a result of escalating global tensions.
Following steep declines over the weekend, the price of bitcoin has recovered strongly on Monday, thanks in large part to US President Trump’s vocal demand for a de-escalation of tensions in the Middle East. He said in his Truth Social post that the United States has successfully addressed the Iranian threat and that the situation may be stabilizing.
Just before he made these remarks, Iran fired missiles targeting several American military bases in the Middle East. Reports of strikes on Iranian nuclear facilities by the United States prompted the assaults. Despite an initial panic, markets for digital assets, and Bitcoin in particular, quickly recovered after Trump’s remarks.
Reports of missile launches from Iran at U.S. military sites in Iraq, Qatar, and surrounding territories heightened tensions between the US and Iran over the weekend. Iran used military force in reaction to what it saw as a U.S. assault on its nuclear facilities.
Ceasefire Talks Underway
It has been verified by many sources that Iran fired a total of fourteen missiles. Trump claimed in his statement that thirteen were shot down, but one was let go as it wasn’t endangering anybody. Reportedly, there was minor damage and no American casualties.
Aiming to avoid more confrontation, the United States’ reaction was strategic, as pointed out by Trump. His remarks encouraged regional powers, especially Israel, to follow his lead and indicated a willingness for peace.
Earlier, massive selling occurred in crypto markets as a result of escalating global tensions. For the second day in a row, Bitcoin’s price dropped below $100,000, after being trading around $103,000 earlier in the week. Concerned about the Middle Eastern crisis, investors sought stability in less unpredictable assets. However, this recent ceasefire talks have brought in light of hope. At the time of writing, Bitcoin is trading at $105,766, up 3.66% in the last 24 hours as per data from CMC.
Highlighted Crypto news Today:
