Bitcoin Price Jumps. How Cryptos Are Reacting to Middle East Ceasefire. — Barrons.com

By Elsa OhlenBitcoin and other cryptocurrencies rose sharply early Tuesday as the conflict in the Middle East entered a new phase, affecting investors' risk appetite.The world's largest coin, Bitcoin, rose 3.2% over the past 24 hours to $$105,28, according to CoinDesk data. It comes following Iran's limited retaliation to U.S. strike on Iran's nuclear facilities over the weekend and signs of a cease fire emerging Tuesday.Altcoins rose even more: Ether jumped 6.2%, XRP climbed 7.8% and Solana gained 7.6%.Those arguing that Bitcoin is a haven asset, or a "digital gold," have seen their argument significantly weakened over the past two weeks.The Israel-Iran conflict pushed Bitcoin to a six-week low of $98,000 as investors fled to safer assets, dumping certain stocks and cryptocurrencies.S&P 500 and Nasdaq futures both rose about 1% early Tuesday, while Gold futures fell 1.7%.Write to Elsa Ohlen at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.