US-Iran Ceasefire Agreement Sends Bitcoin Price Soaring

The crypto market has experienced a brief respite from turmoil following the announcement of a two-week ceasefire between the US and Iran.

According to reports, the US and Iran agreed to suspend hostilities for a period of 14 days, with both nations reaffirming their commitment to the agreement. The news sent shockwaves through the markets, with Bitcoin prices surging by 2.6% in the hour following the announcement.

The price of Bitcoin climbed past $72,000, reaching $72,339 at the time of publication, according to CoinMarketCap data. This marks a significant milestone for the cryptocurrency, which last traded above $72,000 on March 18.