Breaking: Bitcoin Nears $64K As Trump Says Israel, Iran Seek ‘Immediate Ceasefire’
Highlights
- Bitcoin rebounded close to $64,000 as Trump announced talks of ceasefire between Iran and Israel.
- Iran halted its military activities to support the move.
- Earlier, Israel attacked Hezbollah-related facilities in Beirut, which led to retaliatory strikes from Iran.
Bitcoin started rising back towards $64,000 on Monday, June 8 following news of an “immediate ceasefire” between Israel and Iran. It led to market relief in the wake of new tensions between the two nations in the Middle East.
Bitcoin Advances Amid Trump’s Ceasefire Announcement
Bitcoin price reached as high as $63,715, up 1.78% for the day. It countered losses earlier in the day that came after Iran retaliated against Israel with strikes amid conflict.
For context, the BTC price had dipped slightly lower than $64,000 earlier in the day amid rising geopolitical tensions. However, it recovered as oil prices plunged heavily after ceasefire talks.
In a post on Truth Social, Trump wrote, “Both sides, Israel and Iran, are looking to do an immediate CEASEFIRE!” He added that final peace talks were also underway but were still“subject to ignorance or stupidity getting in its way.”
Trump also stated that “The Blockade will remain in place, and in full force and effect, until a ‘Final Deal’ is reached.” Moreover, he hinted that diplomatic talks are already moving ahead.
Iran Suspends Military Activity After Latest Strikes
Bitcoin and crypto market’s reaction came following reports that Iran’s joint military command halted offensive action after some recent clashes with Israel. Iranian officials said that latest standoff was the first major flare-up since a ceasefire agreement was brokered between Iran and Israel by the U.S. about two months ago.
Earlier, Tehran also threatened in the statement a “much more severe and crushing response” if Israel or its allies show “aggression” against it in the future.
The clashes stemmed from renewed tensions between Israel and Lebanon. It followed Israeli strikes on Hezbollah-linked facilities in Beirut. It led to retaliatory Iranian strikes on the Israeli military. At the time, this move led to Bitcoin dropping as geopolitical instability grew.
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