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Bitcoin Soars to $105,000 as Trump Announces Israel-Iran Ceasefire
President Donald Trump has announced a ceasefire between Israel and Iran, sending the cryptocurrency market into a frenzy. In response, Bitcoin’s value surged by over 7% to reach an astonishing $105,000.
The sudden rally was fueled by massive short liquidations, with over $350 million in short positions being wiped out in just 24 hours. This highlights the devastating impact of the recent conflict on traders’ sentiment. The majority of these liquidations, ranging from 89-100%, were comprised of short sellers who had bet against Bitcoin’s growth.
As a result, institutional investors and ETFs remained steadfast in their support for the cryptocurrency, further solidifying its position as a safe-haven asset. This newfound strength may indicate a maturity in Bitcoin’s performance, allowing it to weather global events and maintain its value.
Source: coincentral.com
