Original Article Title: "Can Trump Broker an Israel-Iran Ceasefire? Overnight Crypto Market Turbulence"

Original Article Author: Bright, Foresight News

Editor's Note: On the morning of June 24, after Trump claimed that Israel and Iran had fully agreed to a comprehensive ceasefire, the Israeli military once again stated that Iran had recently launched missiles at Israel. Currently, the future of Israeli-Iranian relations remains uncertain.

On the morning of June 24, as Trump announced that Israel and Iran had fully agreed to a comprehensive ceasefire, the cryptocurrency secondary market rebounded after last night's safe-haven flight amid fears of a war escalation. BTC briefly fell below $100,000 before surging past the $106,000 mark, with many altcoins seizing the opportunity to rise. Due to the impact of the Middle East situation, BTC has been in a week-long pullback, with yesterday's low touching $98,200 and today's rapid rebound reaching $106,075, representing a surge of over 8.02%.

However, the latest news that Iran denies reaching a substantive ceasefire agreement has affected the market, with Bitcoin temporarily trading around $105,000 at the time of writing.

ETH, after a sharp decline, has shown relative weakness and has not yet returned to the previous $2,500 level. Following yesterday's low of $2,111, ETH surged to over $2,440, a 15.58% increase. SOL's recovery trend has been relatively strong, rising from yesterday's low of $121 to $147, a 21.48% increase. However, it may face selling pressure from whales due to the cooling off of on-chain activities, with Sol still having a significant gap from the recent high of $187.71.

The total market value of cryptocurrencies has rebounded by over 6% from its low point, rising to $3.3 trillion. With the release of risk-off sentiment and the collective rise of altcoins, Bitcoin's market dominance has slightly decreased from its high to 63.49%, but the altcoin season index remains at a low of 14, and the fear and greed index has fallen to 37, representing fear. Meanwhile, the U.S. stock market closed with a slight overall increase. The S&P 500 index rose by 0.96% to 6,025.17 points. The Dow Jones Industrial Average rose by 0.89% to 42,581.78 points. The Nasdaq rose by 0.94% to 19,630.98 points. In the U.S. cryptocurrency stock sector, Circle repeatedly hit new highs, breaking through $298.41 during trading, more than 9.62 times higher than its $31 issue price, and closing at $263.45. Coinbase experienced a minor decline after a rally, dropping by 0.26% to stabilise around the $300 mark, closing at $307.59. MicroStrategy, on the other hand, maintained a bearish trend, falling by 0.68% to close at $367.18.

In terms of liquidation data, according to Coinglass, a total of over 135,600 liquidations occurred in the past 24 hours, with a total liquidated amount of $495 million. Short liquidations amounted to $380 million, long liquidations amounted to $115 million, with the largest single liquidation on a CEX being in the ETH-USDT pair on Binance, valued at $12.1423 million.

Recently, the trend of risk assets such as Bitcoin has been closely related to the Iran-U.S. conflict. The "sound and fury" act between Iran and the U.S. in the early hours of last night truly affected the market's risk-off sentiment. Subsequently, the lack of substantial damage to U.S. military bases and the relatively "weak" retaliatory actions by Iran led to a slight recovery in risk assets. This morning, Israel, Iran, and the U.S. jointly confirmed a comprehensive ceasefire agreement, temporarily putting an end to the geopolitical uncertainties in the Gulf region, triggering a continued rally in risk assets like Bitcoin. However, Iran's latest statement has once again cast a shadow over the brief "peace."

A Tense Night in the Gulf

Iran: Has Launched "Destructive and Powerful" Missiles at the U.S. Base in Qatar

On Monday night, June 23 local time, and early Tuesday morning Beijing time on the 24th, Iranian media reported that Iran announced missile attacks on U.S. bases in Iraq and Qatar. Simultaneously, explosions were heard in the Qatari capital of Doha, with U.S. media reporting that Iran launched multiple missiles at the U.S. base in Qatar.

The Al Udeid Air Base is located about 35 kilometers southwest of Doha and is the most modern military base in the Gulf region for the U.S., as well as one of the largest U.S. overseas military bases with over 10,000 U.S. soldiers deployed there.

Subsequently, the Iranian Armed Forces issued a statement announcing the missile strike on the U.S. Al Udeid Air Base in Qatar. The statement stated that this action was in response to the U.S. attack on Iranian nuclear facilities, approved by Iran's Supreme National Security Council and carried out by the Islamic Revolutionary Guard Corps. The statement said that the Iranian Armed Forces launched "destructive and powerful" missiles at the U.S. Al Udeid Air Base in Qatar.

At the same time, the Secretariat of Iran's Supreme National Security Council released a statement saying that in response to the U.S.'s aggressive actions against Iran's nuclear facilities, on that night, the Iranian Armed Forces carried out a fierce strike on the U.S. Al Udeid Air Base in Qatar. The number of missiles used in this attack was the same as the number of bombs used by the U.S. in the attack on Iranian nuclear facilities. The targeted U.S. base is far from residential areas and city infrastructure in Qatar. The statement emphasized that this action posed no threat to Iran's friendly country, Qatar, and Iran remains committed to maintaining its long-standing friendly relations with Qatar.

Qatar: Successfully Intercepted 19 Missiles Targeting Al Udeid Air Base, No Casualties Reported

Following Iran's confirmation of a missile strike on the U.S.-Qatari Al Udeid Air Base on the 23rd, the Qatari Ministry of Defense released a statement confirming that Qatar's air defense system successfully intercepted 19 missiles targeting Al Udeid Air Base that day, with no casualties reported.

The Qatari authorities also stated that Al Udeid Air Base had been evacuated before the Iranian attack.

U.S.: Trump Enters White House Situation Room, Expresses Desire to Avoid Further U.S. Military Engagement in the Middle East

Meanwhile, during the midday trading session on Monday the 23rd, U.S. government officials stated that Trump met with the Secretary of Defense and members of the Joint Chiefs of Staff in the White House Situation Room. Two informed officials revealed that the U.S. is tracking multiple missiles launched by Iran towards U.S. military facilities in Qatar and Iraq.

The U.S. stated that there were no casualties from Iran's missile attack on the Qatari U.S. military base. They also mentioned that apart from Qatar, "there is no record of Iran targeting U.S. military bases in other countries."

Subsequently, senior White House officials reported that Trump does not wish for further U.S. military engagement in the Middle East.

A Prearranged Peace?

Trump: No U.S. Casualties in Iranian Attack, Suggests Iran May Start Achieving Peace

Shortly before the U.S. stock market closed on Monday, Trump posted on his social media platform Truth Social, stating that Iran's response to the U.S. destroying its nuclear facilities was "very weak" and that the U.S. should "thank Iran for notifying the U.S. in advance."

According to CCTV News, Trump mentioned on his social platform, "Iran's formal response to the U.S. destruction of its nuclear facilities was very weak, as expected by the U.S." Trump said, "Iran launched 14 missiles, of which 13 were shot down, and one flew in a non-threatening direction. No Americans were injured, and almost no damage was done."

At the same time, Trump's post stated that due to Iran's advance notice, no U.S. personnel were injured. Since Iran has already responded to the attack on its nuclear facilities, "hopefully there will be no more hatred in the future." He also said, "Perhaps Iran can now begin to achieve peace and harmony in the region, and I will enthusiastically encourage Israel to do the same."

Trump: Israel and Iran Have Agreed to a Comprehensive Ceasefire Agreement

U.S. President Trump has announced that Israel and Iran have agreed to a comprehensive ceasefire agreement aimed at ending a 12-day-long military conflict that has significantly impacted the Middle East geopolitical landscape and caused global market turmoil. Reportedly, a senior Iranian official confirmed that Tehran has agreed to a ceasefire with Israel proposed by the United States and mediated by Qatar.

However, it is reported that on the local time of the 24th, Israeli Prime Minister Netanyahu, at the end of a cabinet meeting, requested that cabinet members refrain from commenting on the recent development, namely, "Trump's announcement of an Israel-Iran comprehensive ceasefire," until further notice. The latest update indicates that the Iranian Foreign Minister stated that there is currently no "agreement" between Israel and Iran on a ceasefire or cessation of military actions but is willing to stop at this point.

Fed's Dovish Tone Resurfaces

Fed Governor Bauman has spoken out, indicating his support for an interest rate cut as early as July. Bauman pointed out that data shows that tariffs and other policies have not had a significant impact on the economy. The impact of tariffs on inflation may have a greater delay and a smaller magnitude than initially expected, especially as many companies have already built up inventories. The ongoing progress in trade and tariff negotiations has significantly reduced risks to the economic environment. Changes in trade policy are likely to have only a minimal impact on the Fed's preferred inflation gauge. Conversely, risks to the labor market may be rising.

Chicago Fed President Goolsbee stated that since Trump imposed tariffs on April 2, there has been a lack of apparent inflationary pressure, which could allow the Fed to cut rates again. He recalled that the Fed had anticipated rate cuts earlier in the year but paused on rate cuts primarily due to policy uncertainty.

Currently, Bitcoin has made a sharp recovery after a brief dip, breaking out of the precarious $97,000 range. Trader Eugene posted that BTC successfully held the $100,000 mark and he expects this to be the peak of the panic triggered by the entire Middle East situation. Currently, the BTC price is holding in the range of $100,000 to $110,000, and if the market gradually diminishes the impact of the geopolitical conflict, it is likely to test the upper boundary of this range.

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