A glimmer of peace in the Middle East, the crypto market is experiencing violent fluctuations

Recently, U.S. President Trump’s series of statements on Middle Eastern issues has triggered significant fluctuations in global markets. From ordering airstrikes on Iranian nuclear facilities to hinting at an expectation of regime change in Iran, and then thanking Iran for its advance notification of retaliatory actions, Trump's change in attitude is astonishing.

Finally, Trump suddenly announced a ceasefire agreement between Israel and Iran in the early hours of the 24th Beijing time. He stated on social media that both sides agreed to implement a comprehensive ceasefire for 12 hours, and the war is expected to officially end within 24 hours. This news immediately triggered a strong reaction in the market.

Data shows that after the ceasefire announcement, the price of Bitcoin rebounded rapidly. As of 6:30 AM Beijing time on the 24th, Bitcoin briefly surpassed $106,000, with a 24-hour increase of nearly 5%. Ethereum also rose above $2,400 per coin, with an intraday increase of over 7%. Other major encryption currencies generally rose by 5%-8%, with Solana performing particularly well, with an increase of nearly 10%.

This sharp fluctuation reflects the market's sensitivity to geopolitical risks. The sudden drop over the weekend may have been due to the market overpricing the risk of conflict, while Trump's latest statement has released a signal of easing, prompting a rapid return of funds to risk assets.

It is worth noting that during periods of severe price fluctuations, a large-scale short squeeze occurred in the crypto market. Data shows that in the past 24 hours, the total liquidation amount of cryptocurrencies across the network reached $482 million, with short positions accounting for over 70%.

At the same time, data from the derivatives market shows that optimism is on the rise. Although the skew of put options expiring in September remains high, short-term volatility is compressing, indicating that traders are digesting broader spreading risks. Some analysts believe that investors view the current situation as an escalation of regional conflicts rather than a full-blown global crisis.

Some technical analysts point out that Bitcoin is forming a head-and-shoulders reversal pattern, which is a bullish signal. They believe that Bitcoin may be repeating the classic cycle pattern of "breaking new highs → pullback → main upward wave."

However, behind the optimistic sentiment in the market, the unpredictability of the Trump administration's policy statements cannot be ignored. From tariff policies to encryption currency regulations, this president's decisions are often surprising. In such a macro environment, investors may need to remain cautiously optimistic while hoping that the global situation can genuinely move towards peace and stability.