Bitcoin rose on Tuesday, buoyed by a broader improvement in risk appetite after U.S. President Donald Trump announced a ceasefire between Israel and Iran, potentially marking an end to their renewed conflict.
Media reports showed Tehran and Jerusalem also acknowledging the ceasefire, although Iran continued to attack Israel until minutes before the truce was supposed to take place.
Trump announced that the ceasefire had taken effect around 01:00 ET (05:00 GMT).
Bitcoin rose 3.2% to $105,042.5 by 01:24 ET (05:24 GMT), although it remained in a tight trading range seen through most of June.
Broader crypto markets also advanced, tracking strong gains in other risk-driven assets, specifically equities.
Trump says Israel-Iran ceasefire now in effect
Trump said in a social media post that his earlier announced ceasefire was now in effect, calling on both parties not to violate the agreement.
The truce, if upheld for 24 hours, will mark an end to renewed hostilities between Israel and Iran, Trump said in an earlier post. While Iran was seen launching missiles against Israel until the 11th hour, the strikes did taper off as the deadline for the ceasefire passed.
An end to hostilities in the Middle East is likely to serve as a major boost to risk appetite, given that concerns over increased hostilities between Israel and Iran sparked a week of losses in risk assets.
