Bitcoin Surges Above $106K as Trump Claims Iran-Israel Ceasefire Deal
Bitcoin prices spiked on Monday evening after former U.S. President Donald Trump announced via Truth Social that Iran and Israel had reached a “complete and total” ceasefire agreement, set to begin within hours.
“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),” Trump posted.
The news sent bitcoin soaring nearly 3%, briefly surpassing $106,000 after trading as low as $98,500 just a day earlier. By press time, bitcoin had eased slightly to around $105,300.
U.S. equity futures rose roughly 0.5% across major indexes, while oil prices continued to drop, sliding to $65 per barrel after touching $75 earlier in the session.
The broader crypto market rallied on the ceasefire hopes, with altcoins such as ether (ETH), XRP, and solana (SOL) gaining between 8% and 10%.
Although initial reactions were mixed due to the suddenness of Trump’s announcement, Reuters later reported that a senior Iranian official confirmed Iran had agreed to a proposed ceasefire with Israel.
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