Bitcoin jump go reach $72,700 as US-Iran stop fighting, dey cause short squeeze
Bitcoin jump up reach about 4.9% to near $72,700 after news say US and Iran agree ceasefire affect market. Donald Trump announce two-week pause for Truth Social, with Pakistan as mediator, before peace talks wey dem schedule for April 10 for Islamabad.
First wahala show for oil. WTI fall more than 10% to around $95, ease the fear premium wey dey affect risk assets. As dem dey unwind the “fear trade” quick, capital shift enter crypto, make Bitcoin get sharp upside push.
The repricing trigger about $595M crypto liquidations inside 24 hours, with shorts responsible for about $427M. People call the unwind the most aggressive short squeeze since early March, even though funding rates don show heavy short positioning already. Ethereum rally strong too, rise as high as 7.4% to around $2,273, help reset broader sentiment.
Traders go dey watch whether Bitcoin fit break out from the $65,000–$73,000 range wey don contain rallies during the war period.
Bullish
Bitcoin fit get short-term upside bias because di US-Iran ceasefire reduce macro risk (WTI don drop >10%) and e trigger quick, crowded short unwind. As shorts na cause most of di liquidations and Bitcoin dey outperform oda risk assets, di move fit extend through momentum and forced covering. But di reaction don already get support from earlier funding-rate signals, so volatility fit calm down quick once squeezes finish. A sustained breakout past di $65,000–$73,000 range necessary to change di trade from short-covering rally to trend; otherwise market fit return to range trading if peace-talk headlines fade or oil stabilize.