Bitcoin erased its losses from earlier in the day, rising to nearly $75,000. This comes after Trump announced a 10-day ceasefire agreement between Israel and Lebanon, a development that could improve negotiations between the United States and Iran as they seek to end their war.
Bitcoin rises as Trump announces a 10-day ceasefire between Israel and Lebanon
Bitcoin rose to a high of $74,800, from an intraday low of around $73,000, according to TradingView data. the Bitcoin price It rose sharply after Trump announced a 10-day ceasefire agreement between Lebanon and Israel.
In a Truth is a social functionThe US President stated that the leaders of the two countries agreed to officially begin a 10-day ceasefire starting today while they move to achieve peace between the two countries. This announcement comes in the wake of the meeting between the two countries yesterday in the United States, in an attempt to resolve the long-standing conflict.
Bitcoin jumped on the announcement, as this ceasefire could help talks between the US and Iran as they seek to end their war. It is worth noting that Iran insisted that Lebanon be part of the two-week ceasefire agreed to by the United States and Iran and threatened to abandon the ceasefire if Israel did not stop its strikes against Lebanon.
It is also worth noting that this development comes ahead of the proposed second round of peace talks between the US and Iran, as the two sides failed to reach an agreement in the first meeting last weekend. Meanwhile, as CoinGape reported, The ceasefire between the United States and Iran could be extended After two weeks, the two sides continue negotiations towards a decisive end to the war.
Bitcoin reached a multi-month high of $76,000 earlier this week amid optimism that the US-Iran war may soon end. The war put significant pressure on risky assets, especially with oil prices rising early in the war, raising inflation fears.
Cryptocurrency traders are betting on the ceasefire extension
Cryptocurrency traders are currently betting that the United States and Iran will agree to a two-week extension of the ceasefire. According to Polymarket data, there is an 87% chance that the ceasefire will be extended by April 21, just one day before it expires.
Bitcoin also recovered as the US and Iran continue to communicate through Pakistani intermediaries ahead of a possible second round of peace talks. According to the Al Jazeera report, Pakistani sources said that there was a major breakthrough in the talks on the Iranian nuclear program, which is positive for both sides. Crypto prices.
It is worth noting that the Iranian nuclear program was the main point on which the two sides failed to reach an agreement in the first round of talks. Meanwhile, tensions have calmed despite Trump’s move to close the Strait of Hormuz earlier this week.
