Israel-Hamas Ceasefire May Be Declared, Crypto Market May Recover!


"Let it be true that the price of BTC can go up after the ceasefire? I can't believe it."

Following geopolitical tensions in Gaza increasing, the Palestinian militant group Hamas finally agreed to a ceasefire with Israel where the two countries negotiated indirectly through Qatar, Egypt and the United States (US).

There is no denying that macroeconomic factors have currently had an impact on the stock and crypto markets, but both asset classes could see a recovery soon after the ceasefire was declared.

BTC options traders have call bets for its price to reach $80,000 by the end of May 2024 while popular analyst Ali Martinez predicts the digital asset will remain in the main buying zone and its price will reach $70,000.

Like to be informed that the trading volume also increased by 40% in the last 24 hours which shows the increased interest among traders, but the amount of BTC futures open interest is very volatile.

The altcoin rally may be delayed as QCP Capital thinks ETH is at risk of seeing another 4% drop following concerns over the SEC possibly not approving the Ethereum (ETH) ETF spot deadline for VanEck and Ark21 on May 23rd and 24th.

While the price of Ripple (XRP) crossed $0.55 in response to the SEC deadline to file its response in the summary of remedies and memecoins such as Shiba Inu (SHIBA) also made a resurgence.

Through observation, the price of ETH which is currently trading at $3,077 has recorded a 2.38% gain in the last 24 hours while XRP has strengthened by about 1.63% at $0.53 and SHIB is down 3.23% at $0.000024.