BTC jumps 5% as Iran talks hopes lift crypto, liquidations spike

Bitcoin (BTC) surged more than 5% to a four-week high, peaking near $74,901 before settling around $74,400. The move followed Trump-related signals that Iran may resume negotiations, while CENTCOM clarified the Strait of Hormuz naval “blockade” would focus on Iranian-port traffic rather than non-Iranian shipping—reducing immediate escalation risk. The rally was broad across crypto, not only BTC. Ether (ETH) rose about 5% to roughly $2,370, with XRP and other majors also gaining, consistent with a risk-on rotation. Derivatives liquidations then followed, clearing shorts across the market and adding momentum to the upside. Traders are now watching BTC technical levels. The next resistance is cited at about $75,000–$76,100; a daily close above that zone would strengthen the reversal case. Without a formal Iran talks signal, the article warns BTC could slide back toward $70,000–$71,000 on renewed negative headlines. Broader positioning also matters: after a stretch of bearish sentiment, funding rates had fallen to very low levels (a sign a rebound was “overdue”). Near-term scenarios range from $75,000–$80,000 on interim progress to a potential path toward $100,000 by year-end if a fuller deal emerges and oil eases toward pre-war levels. Expect elevated volatility for BTC into the next diplomatic update.