Bitcoin’s price has increased by 2.8% throughout the past 24 hours and briefly touched $108,000. The move has caused around $210 million worth of liquidated long and short positions across the derivatives markets, according to data from CoinGlass.
The cryptocurrency has since retraced and currently trades at around $107,600.
The recent price action comes amid several statements made by the US President Donald Trump, who said that he thinks the war between Iran and Israel is over and that “Iran has a huge advantage, I don’t see them getting back involved in nuclear.”
Morever, Trump also spoke of Russia and the situation in Ukraine. He said that they didn’t discuss a ceasefire with President Zelensky, while also saying that he considers Russian President Putin to be “misguided.”
Furthermore, he also outlined that he will be talking with Iranian leadership next week and that they “may sign an agreeme and would ask for no nuclear.”
The market remains very volatile, at the time of this writing.
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