Bitcoin climbs above $69, 000 as traders flip the script

Bitcoin surged 3% to $69, 120 on Monday after traders returned from Easter and felt hopeful about a possible Iran ceasefire. The rise pushed the largest crypto past its last week’s peak and forced $196 million in short bets to liquidate within 24 hours. Ethereum led the climb, gaining 3. 7% to $2, 130—its biggest daily jump in a week. Solana jumped 2% to $82, Ripple added 2. 2% to $1. 34, and Dogecoin rose 1. 7% to $0. 093. The rally lifted the overall crypto market cap above $2. 5 trillion again. The trigger was a report that the U. S. , Iran, and regional mediators are negotiating a 45‑day ceasefire, which could end the six‑week conflict. News that more ships passed through the Strait of Hormuz added relief, even as former President Trump warned about striking Iran’s power plants.Liquidation figures show traders were set for a fall before the weekend: out of $273. 8 million in 24‑hour liquidations, $196. 7 million came from shorts and only $77. 1 million from longs—nearly a 3‑to‑1 ratio. The biggest single wipeout was a $10. 17 million ETH‑USDT short on Binance. Bitcoin’s daily range spanned from $66, 634 to $69, 350, a swing that swallowed the worst short positions. Social media sentiment was at its most bearish over the weekend, with five negative posts for every four positive ones. Yet in crypto, the sharpest rebounds often follow the deepest pessimism. The move has reclaimed Bitcoin’s five‑week high but still sits within the $65, 000 to $73, 000 channel that has guided every rise and fall since the war began. Key resistance points—$71, 500 and $81, 200—align with technical indicators and will be the next checkpoints if the ceasefire momentum holds. The sustainability of this rally hinges on whether the 45‑day pause becomes real or evaporates in a day.