The ceasefire between Iran and Israel has stabilized world markets and boosted cryptocurrencies, with Bitcoin surpassing $105,000 after dropping below $100,000 recently.
Lower oil prices post-ceasefire led to reduced inflation pressure, prompting investors to seek riskier assets like cryptocurrencies.
Bitcoin surged over 5%, reaching over $106,000, followed by Ethereum, Solana, Cardano, and Dogecoin showing gains.
Technical breakout above $103,800 for Bitcoin brought increased buying activity, pushing the price over $105,000.
Altcoins such as Ethereum, Cardano, and Solana experienced a surge, with the Altcoin Season Index indicating potential outperformance against Bitcoin.
Although the ceasefire has improved short-term crypto trends, concerns remain about potential hostilities or political instability impacting prices negatively.
The situation could become volatile again if the ceasefire falters, especially with Iran's previous threats regarding the closure of the Strait of Hormuz.