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U.S. cryptocurrency stocks experienced a significant surge on Tuesday, mirroring gains in the broader market.

​Solana (SOL) led a sharp rally in cryptocurrency markets on Monday, jumping 8% to $145, following the announcement of a ceasefire between Israel and Iran.

Bitcoin reclaimed the $105,000 mark during early Asian trading on Tuesday, rallying nearly 4.5% in the past 24 hours following U.S. President Donald Trump’s announcement of a ceasefire agreement between Israel and Iran.

The recent geopolitical upheaval in the Middle East has led to a notable pullback in cryptocurrency markets, challenging the long-held belief that digital assets serve as a safe haven during times of crisis.

The usage of cash is decreasing as a result of advances in digital payment technology, according to Andrew Abir, Deputy Governor of the Bank of Israel, who spoke at the recent "Engines of the Israeli Ecosystem" conference on April 16.

The value of many assets has been significantly impacted by Iran's retaliatory attack against Israel on Saturday, April 13. This is because it has raised the risk for some vital supply routes, like the Hormuz Strait, and stoked concerns that the ongoing conflict in the region may spread to other countries.