Ether Jumps 8% After Trump Announces Israel-Iran Ceasefire
Ether (ETH) shot up to $2,425 earlier today, marking an 8.6% gain in just 24 hours. The rally came shortly after former U.S. President Donald Trump claimed—somewhat unexpectedly—that Israel and Iran had agreed to a temporary ceasefire. Whether the deal holds or not, markets reacted fast.
The jump seems to have shaken off some of the war-driven nerves that had been weighing on crypto lately. It’s not just ETH, either—most major tokens are in the green today. Maybe traders are just relieved to hear *something* resembling good news.
What Trump Actually Said
Late last night, Trump posted on Truth Social that both countries had agreed to pause fighting in stages. According to him, Iran would stop first for 12 hours, then Israel would follow, leading to a full 24-hour halt. He called it a “successful conclusion” to what he described as a 12-day conflict—one that, in his words, could’ve spiraled into something much worse.
Now, here’s the thing: no other major news outlets have confirmed the ceasefire yet. But right or wrong, crypto markets ran with it. ETH, which had already been holding up better than most during the recent slump, got an extra boost.
Whales Were Buying Before the Rally
This wasn’t just a knee-jerk reaction, though. On-chain data shows big players had been scooping up ETH for days. Over $265 million worth was bought by large holders during the dip, including one wallet that grabbed 47,070 ETH (about $113 million) in just three days.
Network activity doesn’t hurt either. Since mid-May, Ethereum’s been adding around 1 million new addresses per week—up 50% from last year. That kind of growth usually doesn’t happen when people are bearish.
Where ETH Stands Now
Technically, the move was sharp but not entirely chaotic. ETH bounced from $2,230 to over $2,400, with heavy support forming around $2,220. The breakout past $2,400 came on a volume spike, and what was resistance at $2,275 quickly turned into support.
It’s since pulled back a bit, hovering between $2,390 and $2,402. Some traders are calling it a bull flag—a pause before another potential leg up. The next big test? Clearing $2,500.
But here’s the catch: crypto’s still crypto. If the ceasefire falls apart—or never existed—today’s optimism could vanish just as fast. For now, though, the charts look halfway decent.
