Here’s Why The Bitcoin, XRP, And Dogecoin Prices Are Surging Today

bitcoinistPublished on 2026-04-08Last updated on 2026-04-08

Abstract

The prices of Bitcoin, XRP, and Dogecoin surged over 4% following an announcement of a two-week ceasefire agreement between the U.S. and Iran. U.S. President Donald Trump stated both nations agreed to a temporary halt in hostilities, including a suspension of U.S. bombing campaigns, and Iran agreed to reopen the Strait of Hormuz. Trump indicated that a long-term peaceful settlement is near, citing a 10-point proposal from Iran as a workable basis for negotiation. Iranian officials confirmed the ceasefire, contingent on halted attacks. The geopolitical de-escalation triggered significant liquidations of short positions—$400 million in shorts versus $110 million in longs—and a sharp drop in oil prices. The market response reflects optimism toward reduced Middle East tensions.

The Bitcoin, XRP, and Dogecoin prices are surging today, recording significant gains. This follows an agreement between the U.S. and Iran to a 2-week ceasefire as they work towards a peaceful settlement of the war.

Why The Bitcoin, XRP, And Dogecoin Prices Are Up Today

The Bitcoin, XRP, and Dogecoin prices are up over 4% today, according to CoinMarketCap data. This comes amid the announcement by both the U.S. and Iran of a 2-week ceasefire. In a Truth Social post, U.S. President Donald Trump announced that both sides had agreed to a temporary ceasefire and that Iran also agreed to reopen the Strait of Hormuz.

Bitcoin, XRP, and Dogecoin prices also rose as Trump announced that, as part of the ceasefire, he has agreed to suspend bombing and attacks on Iran for 2 weeks. This came just as the president’s deadline to attack Iran’s energy infrastructure neared, with the president already threatening to wipe out their ‘civilization.’

Trump also signaled that they are close to reaching a peaceful and conclusive settlement of the war, which is also a positive for the Bitcoin, XRP, and Dogecoin prices. He noted that they have already met and exceeded all military objectives and are very far along with a definitive agreement concerning long-term peace with Iran and peace in the Middle East.

Specifically, Trump revealed that they had received a 10-point proposal from Iran and that they believe it is a workable basis for negotiation. He added that almost all the points have been agreed to by the U.S. and Iran, and that the two-week period will allow them to finalize and consummate the agreement.

Iranian Foreign Minister Abbas Araghchi also posted a statement on X confirming the 2-week ceasefire in the U.S.-Iran war. He stated that Iran will cease its defensive operations as long as U.S.-Israeli attacks are halted. Araghchi also confirmed that they will ensure safe passage through the Strait of Hormuz over the next two weeks.

More Short Positions Liquidated

The Bitcoin, XRP, and Dogecoin prices have also surged as more short positions are liquidated in the last 12 hours amid the agreement to a 2-week ceasefire by the U.S. and Iran. Over this period, $400 million in short positions have been liquidated while $110 million in long positions have been liquidated, according to CoinGlass data.

It is worth noting that oil prices have crashed following the agreement of a ceasefire. Both Brent crude and WTI oil futures have crashed below $100, down 14% and 8%, respectively, in the last 24 hours. This comes as traders begin to price in a long-term settlement between the U.S. and Iran, which is a positive for the Bitcoin, XRP, and Dogecoin prices.

BTC trading at $71,739 on the 1D chart | Source: BTCUSDT on Tradingview.com

Related Questions

QWhat is the main reason for the surge in Bitcoin, XRP, and Dogecoin prices today?

AThe main reason is the announcement of a 2-week ceasefire agreement between the U.S. and Iran, as they work towards a peaceful settlement of the war.

QHow much have the prices increased according to CoinMarketCap data?

AThe Bitcoin, XRP, and Dogecoin prices are up over 4% today.

QWhat did U.S. President Donald Trump announce regarding military actions against Iran?

ATrump announced that he has agreed to suspend bombing and attacks on Iran for 2 weeks as part of the ceasefire.

QWhat significant development occurred with oil prices following the ceasefire announcement?

AOil prices crashed, with Brent crude and WTI oil futures falling below $100, down 14% and 8% respectively in the last 24 hours.

QHow much in short positions were liquidated in the crypto market amid the ceasefire news?

A$400 million in short positions were liquidated in the last 12 hours, according to CoinGlass data.

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