Key Takeaways:
- Bitcoin rebounded to $106K amid easing geopolitical tensions and increased rate cut expectations.
- Ceasefire between Israel and Iran and weaker USD spurred broad market optimism.
- Bitcoin hashrate dropped 8%, possibly due to U.S. weather issues, despite stable derivatives market.
Bitcoin surged back to $106,000 after briefly falling below $98,500 over the weekend, driven by easing geopolitical tensions and growing speculation about U.S. interest rate cuts.
A ceasefire announcement between Israel and Iran by President Trump calmed market nerves, prompting a broad risk rally.
"CONGRATULATIONS TO EVERYONE! It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE…" –President Donald J. Trump pic.twitter.com/hLTBT34KnG
— The White House (@WhiteHouse) June 23, 2025
Oil prices dropped, the S&P 500 rose 1%, and the U.S. dollar weakened – all contributing to renewed investor confidence in Bitcoin.
The probability of a Federal Reserve rate cut by November jumped to 53%, up from 38% a week earlier, according to CME FedWatch data.
Bitcoin’s derivatives market remained stable, with open interest around $68 billion despite $193 million in long position liquidations.
Meanwhile, Bitcoin’s hashrate fell 8% over four days, raising concerns about mining stability.
While some pointed to potential disruptions in Iran, analysts suggest weather-related shutdowns in the U.S. may be the cause.
Despite short-term volatility, Bitcoin’s resilience above $100K signals continued institutional demand.
Traders now watch for further Fed guidance and geopolitical developments as key drivers of the next move.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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