Bitcoin jumps 4% to $71K as US-Iran ceasefire boosts sentiment; Ethereum follows higher
Why it matters: The ceasefire led to a $427 million wipeout for Bitcoin, Ether, and oil shorts.
- Bitcoin gained around 4% to trade near $71,575, even vaulting past $72,000 according to CoinDesk, as US stock futures surged.
- Ethereum rose 6.5% to $2,248, following Bitcoin's upward trend.
- President Trump announced a two-week ceasefire and plans to reopen the Strait of Hormuz, boosting market sentiment across various assets.
- South Korea stocks led gains in Asia, and European stocks were set to soar, as reported by CNBC, reflecting broader market optimism.
- Oil prices plunged after the ceasefire deal, contributing to a $427 million wipeout for Bitcoin, Ether, and oil shorts, as noted by CoinDesk.
Bitcoin and Ethereum surged, with Bitcoin jumping 4% to $71,575 and Ethereum rising 6.5% to $2,248, following President Trump's announcement of a two-week ceasefire and plans to reopen the Strait of Hormuz. This positive sentiment also propelled South Korean and European stocks higher, while oil prices plunged, leading to a significant $427 million wipeout for Bitcoin, Ether, and oil shorts.
