Monday’s Israel-Iran ceasefire turned out to be a short-lived deal as both sides resumed hostilities just minutes after President Donald Trump’s announcement.
Trump rebuked Israel for its air and missile strikes on Tuesday, warning that continued bombings would constitute a “major violation” of the ceasefire.
Later addressing the press, the US President used explicit language to express his displeasure towards both nations.
The return of hostilities has sparked fears of another meltdown in stocks and the crypto market. However, equities remain resilient, with all major US indices up nearly 1%. Meanwhile, crypto prices are rebounding sharply, as Bitcoin reclaimed the $105,000 level on Tuesday.
Among altcoins, Sei, Dogwifhat, and SPX6900 continue to lead the charge, indicating that the crypto bull market isn’t over.
Israel, Iran Hostilities Resume – Should Investors Be Concerned?
Minutes after President Trump took to social media to announce a ceasefire in the Middle East, reports of an assassination strike in Iran began circulating online.
Israel, in turn, accused Iran of violating the agreement first, a claim it used to justify launching retaliatory strikes.
Trump expressed clear frustration with both nations on Tuesday morning, even using explicit language as he singled out Israel for its escalatory bombing campaign.
Despite the renewed violence, oil prices are plunging, a sign that global markets expect the conflict to be short-lived. Brent Crude is down nearly 16.3% from this week’s high, while WTI has dropped around 14.5%.
Trump took to social media to ease tensions, assuring both the public and markets that Iran would not restart its nuclear program and that Israel would refrain from further attacks.
Meanwhile, macroeconomist and GMI co-founder Raoul Pal took to X to highlight its correlation between Bitcoin and global liquidity.
Despite the recent geopolitical and macroeconomic uncertainty, the Global M2 money supply still indicates that the Bitcoin price will hit $150,000 by this year, indicating that the crypto bull market isn’t over.
The Crypto Bull Market Isn’t Over – Best Altcoins To Buy Now
Geopolitical tension-induced crypto crashes have historically been excellent buying opportunities, and this time appears no different.
After testing the $98.5k support level, the Bitcoin price has since climbed up to $106,000. However, ETHBTC is now rising rapidly as well, which indicates that altcoins are expected to take centre stage in the coming weeks.
Unsurprisingly, altcoins are already showing significant bullish strength. For instance, the Ethereum price is up by nearly 10% over the past 24 hours, trading just shy of $2500.
Despite the conflict in the Middle East, the spot Ethereum ETFs recorded $100 million in inflows on Monday, while whales are opening massive leveraged longs on ETH.
Meanwhile, Sei is continuing to lead the charge, currently up by nearly 40% over the past 24 hours. It has breached the neckline resistance of a massive inverse head-and-shoulders pattern, signalling a strong possibility of a bullish continuation.
Fartcoin, Dogwifhat and Virtuals Protocol are also among the top performers.
New crypto coins are back in the spotlight as well. Solaxy (SOLX), which went live on June 23rd, is up by nearly 120% over the past 24 hours. Many are calling it the next 10x crypto.
All eyes are now on BTC Bull (BTCBULL), another successful presale coin which is going live in early July.
The BTCBULL presale has already raised nearly $8 million, with FOMO-driven buying still going strong just days before its June 30th deadline.
The unique Bitcoin-themed meme coin promises free Bitcoin, token burn events, and a massive BTCBULL airdrop to token holders as the BTC price hits certain set milestones.
Owing to its unique value proposition and small market cap, BTC Bull has emerged as one of the best altcoins to buy, with many eyeing up to 100x returns.
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