Bitcoin rose on Tuesday, buoyed by a broader improvement in risk appetite after U.S. President Donald Trump announced a ceasefire between Israel and Iran, potentially marking an end to their renewed conflict.
Media reports showed Tehran and Jerusalem also acknowledging the ceasefire, although Iran continued to attack Israel until minutes before the truce was supposed to take place.
Trump announced that the ceasefire had taken effect around 01:00 ET (05:00 GMT).
Bitcoin rose 3.2% to $105,042.5 by 01:24 ET (05:24 GMT), although it remained in a tight trading range seen through most of June.
Broader crypto markets also advanced, tracking strong gains in other risk-driven assets, specifically equities.
Trump says Israel-Iran ceasefire now in effect Trump said in a social media post that his earlier announced ceasefire was now in effect, calling on both parties not to violate the agreement.
The truce, if upheld for 24 hours, will mark an end to renewed hostilities between Israel and Iran, Trump said in an earlier post. While Iran was seen launching missiles against Israel until the 11th hour, the strikes did taper off as the deadline for the ceasefire passed.
An end to hostilities in the Middle East is likely to serve as a major boost to risk appetite, given that concerns over increased hostilities between Israel and Iran sparked a week of losses in risk assets.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. But these concerns had somewhat eased by this week, with markets only showing a mildly negative reaction to the U.S. bombing Iran’s nuclear infrastructure, as well as Iran’s response.
Still, it remains to be seen whether the ceasefire will hold. Tensions between Israel and Iran have flared up intermittently over the past decade.
Dem. Senator introduces act to ban govt. officials from crypto investment Democratic Senator Adam Schiff of California on Monday introduced legislation aimed at blocking government officials, including President Donald Trump and his family, from investing and participating in the crypto industry.
The act is called the Curbing Officials’ Income and Nondisclosure (COIN) Act seeks to prevent the president, other high-ranking executive and federal officials and members of Congress from issuing, sponsoring, or endorsing digital assets.
Schiff, when unveiling the act, criticized Trump’s crypto investment and ventures, stating that “Donald Trump and other senior administration officials have made a fortune off of crypto schemes.”
“Today, I’m introducing the COIN Act to put a stop to this corruption in plain sight,” Schiff said in a social media post.
Trump rolled out a host of crypto-friendly orders after taking office. But the president drew criticism over concerns that his actions greatly boosted his personal crypto holdings, as well as those of his family and associates.
Crypto price today: altcoins upbeat tracking Bitcoin gains
Broader crypto prices advanced on Tuesday amid improving risk appetite. World no.2 crypto Ether rallied 7.7% to $2,420.01, while XRP rose 8.1% to $2.1952.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Solana and Cardano rose between 7% and 8%.
Among meme tokens, Dogecoin rose 7.7%, while $TRUMP added 8.1%.
