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Bitcoin rallies to $106K on Mideast ceasefire news; Circle shares continue explosive climb
- Bitcoin surged past $106,000 after Trump announced a ceasefire between Iran and Israel.
- This rally marked a significant reversal from a recent plunge to $98,500.
- Oil prices dropped to $65 amidst the news.
- Circle (CRCL) stock hit a record high near $299, up 750% since its IPO.
- The rally in the cryptocurrency market was spurred by Trump's announcement on the ceasefire agreement.
- Bitcoin climbed nearly 3% to over $106,000 post the announcement.
- In traditional markets, US stock index futures saw gains of about 0.5%.
- Crude oil prices fell to $65 per barrel after surpassing $75 earlier in the day.
- Major altcoins like Ether, XRP, and Solana saw impressive gains of 8%-10%.
- Circle (CRCL) stock continued its explosive climb, reaching a market value close to USDC's market cap.
- Shares of Circle surged 22% to nearly $299 before ending the day at around $263.
- Since its IPO, Circle's stock has risen by 750%.
- Circle's market capitalization approached $60 billion, nearing the supply of its USDC stablecoin.
- Investor appetite for stablecoin market has contributed to Circle's surge, with USDC gaining popularity in various sectors.
- The US Senate's passage of the GENIUS Act has boosted confidence in the stablecoin asset class, supporting Circle's growth.
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