Crypto prices spiked during Asian trading hours on Tuesday after US President Donald Trump announced that a ceasefire between Iran and Israel came into effect, causing a sharp recovery across major altcoins and erasing conflict-related weekend losses.
“The ceasefire is in effect now. Don’t violate!” Trump said in the Social Post of Truth.
The rally represents relief following the seeming solution of the crisis that overturned the crypto market over the weekend when US forces joined Israel’s strike at Iran’s nuclear facility.
However, Israel, who declared Iran had fired the missile hours after Trump’s announcement and vowed to be “with power,” remains questionable as to whether the ceasefire will be held. Tehran denied firing on Israel, warning that “Iran’s decisive, solid, timely response will satisfy further aggression.”
Ganesh Mahidhar, an investment expert for further ventures, had anticipated more volatility in the coming days. “Of the three very unpredictable government secretaries, the market just plays Ping Pong,” he said. Decryption. He pointed out that the main Ponteaway was Bitcoin’s “resilience” in the face of geopolitical developments, and “continuous control of assets despite risk assets rising and falling like meme stocks.”
Altcoins Surge
For the time being, Altcoin prices have risen following Trump’s ceasefire announcement.
SUI (SUI) surged to $2.80 with a 11.8% jump, ChainLink (Link) won $13.04 from 9.7%, and Avalanche (Avax) went from $18.04 from 5.6% in the last 24 hours.
Solana (Sol) rose 7.4% to $144.14, while XRP (XRP) went from 7.8% to $2.18, while DogeCoin (DOGE) jumped from 6.5% to $0.1634, according to Coingecko data.
Ethereum (ETH) rose 6.3% to $2,402, while Cardano (ADA) rose to 6% similar to Monday’s rally to $0.5799.
Market experts pointed to the sensitivity of the code to major geopolitical developments, which was directly attributable to the announcement of the ceasefire announcement.
“Other factors may be at play, but it appears that the majority of price movements today are driven by Iran-Israel ceasefire news,” said Min Jung, an analyst at Presto Labs. Decryption. “The sharp recovery occurs early in Asia and closely aligns with the timing of the announcement.”
“This represents a textbook example showing how quickly Crypto Markets responds to major geopolitical developments,” said Annu Shekhawat, Avail’s global ecosystem lead. Decryption.
The Asia-Pacific market was gathered at the announcement of a ceasefire, with South Korea’s Kospi rising by 2.8%, Japan’s 225 gaining 1.3%, and Hong Kong’s Hansen gaining 1.8%.
Meanwhile, Bitcoin (BTC) led crypto recovery, surged by 3.1% to the top of $105,000, recovering almost completely to weekly levels.
The world’s biggest cipher was below the psychologically significant $100,000 level on Sunday before making its comeback.
Ganesh Mahidar, investment expert for further ventures, said Decryption Market volatility has led to “we’ll see many pairs fluctuating this week.”
He points to the driving forces of policy and liquidity, “With the background of the act of genius and the promise of a new injection of capital into every crypto pair, the market is looking for a reason to rise.”
In the short term, Mahidar said “it’s geopolitical stability,” but long-term profits depend on “lower inflation, lower interest rates and increased adoption of stables.”
The series of events began on a weekend when US and Israeli forces used more than 125 aircraft to target Iranian nuclear facilities in Fordaw, Natanz and Isfahan.
Iran retaliated on Monday by hitting Al Udeid Air Base in Qatar, the region’s largest US military facility, in an operation called “Besharat al-Faith.”
Qatari officials reported that all incoming missiles had been neutralized without casualties, but escalation maintained the market until Trump’s announcement of a ceasefire.