Bitcoin Limit Gains On Announcement Of 'Half Ceasefire'

BTC Bounces 4.5% on News of Israel-Iran Ceasefire Announcement
BTC Goes Sideway on the News of a Series of Casualties
Altcoin Also Goes Sideway as Asset Market Tensions Contiuned

On the news of the announcement of the ceasefire between Israel and Iran on Jun. 24, the cryptocurrency market, including Bitcoin(BTC), rose in the morning and then went sideways in the afternoon on the news that casualties were still occurring in the region.

In the morning of Jun. 24, President Trump announced the ceasefire between Iran and Israel through his social media Truth Social. Qatar's foreign media also reported that Iran has accepted the U.S. ceasefire.

However, Iran is taking a different stance. "If Israel stops "illegal aggression" against Iran by 4 a.m. Tehran time at the latest, we have no intention of continuing further actions," Iranian Foreign Minister Abbas Arakchi wrote on his X account.

In fact, a number of foreign media, including the Associated Press, reported on the afternoon of Jun. 24 that at least four people were killed in Iran's missile attack.

The news that armed conflict continues even after the ceasefire has continued to strain the asset market, and the cryptocurrency market has also fluctuated in tension.

Altcoins, which had risen in the morning, were also somewhat limited in the afternoon, including Bitcoin, which had risen sideways at $105,000.

◇Bitcoin = Bitcoin price is $105,358 at 4:30 p.m. on Jun. 23, 2025. The Bitcoin share(dominance) was 65.24%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 41.79% and 58.21%, according to the on-chain analytics platform Sigbtc.

Based on Bitcoin's buying wall, it was predicted that there would be no sharp decline in Bitcoin.

Cointelegraph, a cryptocurrency media outlet, said, "Bitcoin prices avoided further declines amid optimism that the Middle East conflict would soon end," adding, "The price fell to the level in early May and succeeded in rebounding as buying flowed in around $98,000, the average purchase price of short-term holders."

◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Jun. 24 was Sei(SEI), up about 16% on the day alone.

Sei Network is the first blockchain protocol specialized for asset trading.

Before developers deploy smart contracts using the Say network, they submit proposals and require approval from governance. The Sei Network aims to provide a possible environment for new types of financial products to emerge, ranging from decentralized Nasdaq roles and complex options and futures in live sports betting.

◇Fear Greed Index = Digital asset fear-greed index provided by Alternative has entered the 'greed' phase with 65 points. The Greed phase is a phase where price volatility and trading volume increase, and the price increases. The government should be cautious about selling products as it is highly likely to form a short-term high.

The cryptocurrency relative strength index(RSI) provided by Sigbtc was 61.9, which was in a 'neutral' state. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of over-purchasing and over-selling of a particular asset.

권승원 기자 ksw@blockstreet.co.kr