Bitcoin Surges $7,000 as US-Iran Ceasefire Sparks $427M Crypto Short Squeeze

Bitcoin surged over $7,000 to crest $72,700 after Trump announced a two-week ceasefire with Iran.

“Bitcoin, ether, oil shorts lead $427 million wipeout on US-Iran ceasefire Short sellers betting on continued war escalation lost $427 million in 24 hours as bitcoin vaulted past $72,000 on the ceasefire announcement”

@coindesk

The move triggered $595 million in crypto liquidations, with short positions making up about $427 million.

@coindesk

ETF inflows recorded $471 million, the highest in six weeks.

Despite the push, market sentiment was described as still under fear.

Oil prices collapsed more than 10% with Brent dropping to roughly $99 and WTI to about $95.

The Strait of Hormuz closure became a central focus as the ceasefire stipulated safe passage.

Analytics Insight

Global equity markets rallied across Asia, Europe, and the U.S.

Gold prices also rose.

Analysts cautioned that the durability of the rally remains uncertain.

Only about 1% of circulating Bitcoin lies between $72,000 and $80,000.

Institutional participation remains insufficient to sustain a bull cycle without broader monetary easing.

The next two weeks will test whether the ceasefire leads to lasting de-escalation.