Bitcoin surged past $106K late Monday after Trump announced a \u201cComplete and Total CEASEFIRE\u201d between Iran and Israel.
\nThe rally marked a sharp reversal from a plunge to $98,500 just 24 hours prior; oil prices tumbled to $65.
\nStablecoin issuer Circle (CRCL) stock hit a record high near $299, up 750% since its IPO this month.<\/p>\n
A tumultuous 72 hours of price action in the cryptocurrency market culminated in a sharp rally late Monday, as Bitcoin surged past the $106,000 mark. <\/span><\/p>\n The catalyst for this dramatic move was an announcement from US President Donald Trump, who took to his Truth Social platform to proclaim a \u201ccomplete and total\u201d ceasefire between Iran and Israel, offering a glimmer of de-escalation in the volatile Middle East conflict.<\/span><\/p>\n The market\u2019s reaction to President Trump\u2019s announcement was immediate and forceful. \u201cIt 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),\u201d Trump wrote, sending a wave of relief through global markets.<\/span><\/p>\n Bitcoin, which had already been showing signs of a rebound in afternoon trading, jumped nearly another 3% on the news, decisively topping $106,000. <\/span><\/p>\n This represented a remarkable turnaround from just over 24 hours prior, when the leading cryptocurrency had plunged to as low as $98,500 amidst fears of a widening war. <\/span><\/p>\n At the time of this report, Bitcoin\u2019s price had slightly pulled back from its peak to around $105,300, but held onto the majority of its gains.<\/span><\/p>\n The positive sentiment spilled over into traditional markets as well. US stock index futures posted gains of approximately 0.5% across the board. <\/span><\/p>\n The price of crude oil, which had soared to over $75 a barrel earlier in the day on supply disruption fears, tumbled further to just $65 per barrel following the ceasefire news. <\/span><\/p>\n The move in some major altcoins was even more pronounced, with Ether (ETH), XRP, and Solana (SOL) among those sporting impressive gains of 8%-10%.<\/span><\/p>\n While there was some initial confusion in the minutes following the president\u2019s announcement regarding the validity of the ceasefire agreement, Reuters later reported that a senior Iranian official had confirmed Tehran\u2019s agreement to a proposed ceasefire with Israel, lending credence to the market\u2019s optimistic reaction.<\/span><\/p>\n In a parallel and equally dramatic market story, shares of stablecoin issuer Circle (CRCL) continued their explosive rally on Monday, soaring to a fresh record high. <\/span><\/p>\n The surge has brought the company\u2019s market capitalization tantalizingly close to that of its flagship token, USDC, and puts it within striking distance of crypto exchange giant Coinbase (COIN).<\/span><\/p>\n Shares of Circle were up another 22% at one point on Monday morning, reaching a record high just shy of $299 before relinquishing some of those gains. <\/span><\/p>\n The stock ultimately closed at around $263, up a solid 9% for the session. <\/span><\/p>\n Since its Initial Public Offering (IPO) earlier this month, which priced at $31 per share, Circle\u2019s stock has appreciated by a staggering 750%.<\/span><\/p>\n At its peak on Monday, Circle\u2019s market capitalization reached roughly $60 billion. <\/span><\/p>\n This figure is nearly on par with the $61.3 billion supply of its USDC stablecoin, the second-largest dollar-pegged token in circulation. <\/span><\/p>\n This valuation also brings the firm remarkably close to that of crypto exchange Coinbase (COIN), which currently has a market capitalization of about $78 billion.<\/span><\/p>\n Circle\u2019s phenomenal surge this month is a clear testament to the soaring investor appetite for the fast-growing stablecoin market, a sector of the crypto industry with very few publicly-traded \u201cpure play\u201d investment options. <\/span><\/p>\n USDC is widely used across cryptocurrency exchanges and decentralized finance (DeFi) protocols and is gaining increasing popularity for payments and cross-border transactions.<\/span><\/p>\n A key catalyst that has helped fuel Circle\u2019s rally was the US Senate\u2019s passage of the so-called GENIUS Act last week. <\/span><\/p>\n This legislation, which advances a regulatory framework for the stablecoin asset class, has boosted investor confidence in the long-term viability and growth potential of the sector, which some analysts believe could reach a multi-trillion dollar valuation in the coming years. <\/span><\/p>\n Despite the bullish momentum, some analysts are beginning to warn that Circle\u2019s rally may be running ahead of its underlying fundamentals.<\/span><\/p>\n The post Bitcoin rallies to $106K on Mideast ceasefire news; Circle shares continue explosive climb<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin surged past $106K late Monday after Trump announced a \u201cComplete and Total CEASEFIRE\u201d between Iran and Israel. The rally marked a sharp reversal from a plunge to $98,500 just 24 hours prior; oil prices tumbled to $65. Stablecoin issuer Circle (CRCL) stock hit a record high near $299, up 750% since its IPO this […]<\/p>\n","protected":false},"author":0,"featured_media":3942,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-3941","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=3941"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3941\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/3942"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=3941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=3941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=3941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Circle\u2019s meteoric rise<\/span><\/h2>\n