Bitcoin and other cryptocurrencies regained value following a ceasefire between Israel and Iran, bouncing back after steep losses during the 12-day conflict.
Cryptocurrency prices plunged during the recent flare-up between Israel and Iran, reflecting investor caution amid heightened geopolitical tensions. Bitcoin dropped from $107,000 to $102,000 after Israel began its airstrikes on 13 June, while altcoins across the market lost more than 10%.
The downtrend deepened as mutual strikes continued, dampening any short-term market optimism. The sharpest drop came on 22 June, when the U.S. entered the conflict by bombing Iranian nuclear sites - a move that pushed many altcoins down by more than 30%.
At its lowest point, the total value of the global cryptocurrency market fell from $3.4 trillion to $3 trillion - the lowest on record.
However, markets reacted positively after a ceasefire was announced. Bitcoin recovered to more than $106,000, nearly regaining its pre-conflict level. Altcoins also bounced back, many rising more than 20% to return to their earlier valuations.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for 4 July, covering the latest developments you need to know.
Russian President Vladimir Putin has congratulated U.S. President Donald Trump on the 250th anniversary of American independence, saying Russia and the United States share a special responsibility for maintaining global security as the world's two largest nuclear powers.
China said on Saturday it had launched a coast guard patrol east of Taiwan, prompting a strong protest from Taipei, which accused Beijing of illegally expanding its authority and undermining regional stability.
Armenia's parliament has passed a new law raising the requirements for citizens living abroad to vote in national elections, following concerns over alleged efforts to influence last month's parliamentary vote through Armenian citizens residing in Russia.
India is investigating a data breach at Tata Electronics that exposed sensitive documents linked to Apple's unreleased iPhone 18 Pro, marking the government's first public comments on the incident.
The World Meteorological Organization (WMO) has raised its forecast for the rapid emergence of a strong El Niño, warning the climate pattern is likely to drive higher global temperatures and intensify extreme weather in the months ahead.
Iran and the U.S. have concluded indirect talks in Doha without a major breakthrough, with discussions focused on maritime traffic in the Strait of Hormuz and frozen Iranian funds. Both sides are expected to meet again after the funeral of Ayatollah Ali Khamenei.
International politicians and religious leaders have paid respects to Iran's late Supreme Leader Ali Khamenei throughout the day, ahead of his six day funeral ceremony which begins on Saturday. His casket is currently on display at the Iman Khomeini Grand Mosalla in Tehran.
Eight Buddhist monks were killed and more than 20 others injured after an 11-year-old boy driving his parents' pickup truck ploughed into a religious procession in north-eastern Thailand, police said.
European carmakers have urged the European Union to make sure new “Made in EU” rules do not put existing investments in Türkiye and Morocco at risk.
Microsoft is expected to announce a new round of job cuts as early as next week as the technology giant looks to reduce costs, according to reports.
A Swedish court has ordered Alphabet-owned Google to pay about $1.5 billion in antitrust damages to price comparison platform PriceRunner, in one of Europe's largest competition-related awards against a major technology company.
U.S. President Donald Trump earned more than $1bn from cryptocurrency-related business ventures last year, according to his mandatory 2025 financial disclosure.
Rocket Lab has agreed to acquire Iridium Communications in an $8 billion deal, giving the space company a global satellite communications network and accelerating its expansion beyond launch services. The acquisition marks a major step in its ambition to become a fully integrated space business.
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