By
Updated Jun 23, 2025, 11:22 p.m. Published Jun 23, 2025, 11:18 p.m.
- President Trump announced a ceasefire between Israel and Iran.
- Crypto prices shot higher on the news, with bitcoin retaking the $106,000 level.
- Reuters reported a senior Iranian official as confirming President Trump’s claim.
A wild 72-hours of price swings continued in crypto late in the U.S. day on Monday after President Trump took to Truth Social to proclaim a “complete and total” ceasefire between Iran and Israel.
“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),” .
STORY CONTINUES BELOW
Already bouncing in afternoon action, bitcoin
rose nearly another 3% on the news, topping $106,000 after having plunged to as low as $98,500 not much more than 24 hours ago. At press time, the price had pulled back a bit to $105,300.
U.S. stock index futures posted gains of about 0.5% across the board and the price of crude oil tumbled further to just $65 per barrel after topping $75 earlier today.
The move in some altcoins was more dramatic, with ether
, XRP
and solana
among those sporting 8%-10% gains.
In the minutes following the president’s announcement there was some confusion as to whether there was indeed a ceasefire agreement, but a senior Iranian official as saying Tehran has agreed to a proposed ceasefire with Israel.
Stephen is CoinDesk’s managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania’s Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
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