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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Former Russian president Dmitry Medvedev said on Monday that supplying U.S. Tomahawk missiles to Ukraine could end badly for everyone, especially U.S. President Donald Trump.
Tehran has declined Egypt’s official invitation to participate in the Sharm El-Sheikh Summit on Gaza ceasefire between Hamas and Israel. Iran’s Foreign Minister Abbas Araghchi said he cannot sit at the same table with the statemen who attacked his country.
Joyous Palestinians rushed to embrace prisoners freed under a U.S.-brokered ceasefire agreement as they arrived by bus to the occupied West Bank and Gaza on Monday.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
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