Bitcoin Spikes Above $106K as Trump Announces Imminent Iran-Israel Ceasefire

Cryptocurrency markets surged late Monday following an unexpected announcement from former President Donald Trump, who declared on Truth Social that Iran and Israel have agreed to a “complete and total” ceasefire set to begin within hours.

“It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now),” Trump wrote.

Bitcoin, already rebounding in afternoon trading, jumped nearly 3% on the news, topping $106,000 after having plunged as low as $98,500 just a day earlier. By press time, the price had eased slightly to around $105,300.

U.S. stock index futures climbed about 0.5% across the board, while crude oil prices extended their decline to $65 per barrel after briefly surpassing $75 earlier in the day.

Altcoins rallied even more sharply, with ether (ETH), XRP, and solana (SOL) posting gains between 8% and 10%.

Despite initial confusion following Trump’s post, Reuters later reported that a senior Iranian official confirmed Tehran’s agreement to a proposed ceasefire with Israel.