Crypto -markets bounced back in the early Asian trading hours on 24 June, fueled by the announcement of US President Donald Trump, which was a strike -the fires were reached between Israel and Iran.
On June 24, Trump posted About Truth Social:
“Congratulations to everyone! It has been fully agreed by and between Israel and Iran that there will be a complete and total -the fire.”
This unexpected development helped to reverse the reverse losses in the cryptomarkt and led to a rapid increase in the value of large digital assets.
According to CryptoSlate’s Data, Bitcoin led the rebound and rose 3% to reclaim levels above $ 105,000, a few days after a short threshold of $ 100,000.
Other top 10 digital assets per market capitalization achieved even stronger profit, with Ethereum (ETH), Cardano (ADA) and Dogecoin (doge) that climb 6% to $ 2,417, $ 0.58 and $ 0.16 respectively.
It was striking that Solana (SOL) and XRP performed the wider market better and each climb more than 7%. Solana hit more than $ 144, while XRP traded from the moment of the $ 2.18 press.
In the meantime, the sudden price peak caught many short sellers overwhelmed and more than $ 370 million were liquidated over the cryptomarkt.
Traders who gamble against Ethereum suffered the most, with liquidations of $ 119 million. Losing short positions in large altcoins such as Solana, XRP and Cardano added more than $ 40 million to the count.
Market analysts say that the rapid reaction emphasizes how closely digital assets react to geopolitical events.
Valentin Fournier, a lead analyst at BRN, said CryptoSlate The fact that Trump’s stop -the Fires Claim shifted the investor sentiment almost immediately, although neither of them had given a formal confirmation.
Fournier warned that although markets are gathering on the Stakten-Fire News, similar troops have traditionally been short-lived. Nevertheless, he noted that the sharp rebound shows that fear may have reached its peak and that many altcoins could be ready for further profit if the tensions remain contained.
He noticed:
“Our overweight on Solana has paid off because it surpassed both BTC and ETH, which confirmed his role as a high beta leader in recovery phases.”