Bitcoin Surges Past $105K as Israel-Iran Ceasefire Sparks Crypto Rally

Bitcoin (BTC) staged a remarkable recovery on June 23, 2025, climbing back above $105,000 after a brief dip below the $100,000 mark earlier in the day. The price movement came amid heightened geopolitical developments in the Middle East, with markets reacting to an Iranian missile strike on a U.S. air base in Qatar and a subsequent ceasefire announcement between Israel and Iran. As of press time, Bitcoin was trading at $105,464, reflecting a 4.69% gain over the past 24 hours, while other major cryptocurrencies like Ethereum and Solana saw even stronger gains of 8% and 9%, respectively. The crypto market’s resilience and swift rebound underscore its growing sensitivity to global events and investor sentiment.

The day began with Bitcoin dropping to an intraday low of $99,749, triggered by news of Iran’s limited missile salvo targeting Al Udeid Air Base in Qatar. The strike was a response to U.S. airstrikes on three Iranian nuclear facilities two days prior, which had already heightened market uncertainty. However, reports that Tehran had alerted Washington through back channels, allowing U.S. personnel to take cover and resulting in no casualties, quickly eased initial fears. President Donald Trump described Iran’s response as “very weak” and suggested it opened the door for de-escalation, a sentiment that appeared to calm markets and support Bitcoin’s recovery.

Ceasefire Announcement Fuels Market Optimism

The turning point for the crypto market came late in the day when President Trump announced a ceasefire agreement between Israel and Iran on his Truth Social platform. The post, which detailed a structured 24-hour ceasefire process, was met with optimism by traders, who drove Bitcoin and other cryptocurrencies higher. The agreement stipulates that Iran will initiate a 12-hour ceasefire, followed by Israel, with the conflict—termed “The 12 Day War” by Trump—officially ending after 24 hours. Both nations are expected to remain “peaceful and respectful” during the ceasefire periods, with the deal mediated by Qatar and proposed by the U.S.

The announcement provided a significant boost to market confidence, as fears of a prolonged conflict in the Middle East subsided. Bitcoin, which had been trading above $100,000 for most of the recent period despite volatility, quickly reclaimed the $105,000 level, approaching its Friday high of $105,550. Ethereum and Solana’s stronger gains suggest that altcoins, often more volatile, benefited disproportionately from the renewed risk-on sentiment. The broader crypto market’s reaction reflects a growing correlation with geopolitical stability, as investors view reduced tensions as a catalyst for risk assets.

The ceasefire news also had ripple effects across other financial markets. U.S. stock indices, including the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite, closed higher, with gains of 0.89%, 0.96%, and 0.94%, respectively. Oil prices, which had spiked earlier due to concerns over potential disruptions in the Strait of Hormuz, fell sharply, with U.S. crude futures dropping over 7% to $68.51 per barrel. The decline in oil prices further supported the narrative of de-escalation, as markets interpreted the ceasefire as a step toward regional stability.

Despite the positive market response, some uncertainty remains, as neither Israel nor Iran has officially confirmed the ceasefire agreement at the time of writing. Reports indicate that explosions continued in Tehran early Tuesday, and the Israel Defense Forces issued expanded evacuation orders, suggesting that military operations may not have fully ceased. A senior Iranian official reportedly told CNN that Tehran had not received a ceasefire proposal, though Reuters cited another official confirming Iran’s agreement to the U.S.-proposed, Qatar-mediated deal. These conflicting reports highlight the fluid nature of the situation, which could influence Bitcoin’s price in the coming hours and days, as volatility may increase.