08.04.2026 04:29
**Bitcoin and Ether Jump After U.S.–Iran Ceasefire Announcement**
On Tuesday night, Bitcoin surged past $72,700 after former president Donald Trump announced a two‑week ceasefire with Iran via his Truth Social post, just before the 8 p.m. ET deadline he had set. The news sparked a rapid unwind of bearish bets that had accumulated over prior days. CoinGlass reported that $595 million in crypto positions were liquidated across 118,489 traders within roughly two hours, with short bets accounting for $427 million compared with only $168 million in longs—a ratio exceeding 2.5 to 1, underscoring how heavily the market had positioned for further downside as the deadline approached. The biggest single liquidation—a $11.79 million BTC‑USDT short on Binance—exemplified the intensity of the squeeze.
Bitcoin alone accounted for $245 million of the total wipe‑out, while ether contributed $126 million. Tokenized Brent oil futures on Hyperliquid added $33 million as crude prices plunged more than 10%, and a further $42 million was lost on WTI (CL) contracts. Historically one of the most liquidated crypto assets during geopolitical tensions, oil flipped sides as Brent slipped to about $99 and WTI fell to roughly $95, prompting a sharp re‑pricing of the war premium embedded in those markets.
The 12‑hour window was where the bulk of the damage occurred; $508 million of the $595 million total liquidations happened in that period, with $398 million coming from short positions. This represented the most aggressive short squeeze since March 4, when bitcoin rallied on early ceasefire speculation. Solana’s SOL, Zcash’s ZEC and XRP each saw tens of millions in forced sales, while a long tail of lesser‑known tokens experienced smaller, but notable, losses. Even tokenized precious‑metal contracts were caught in the unwind as the broader commodity complex reassessed risk.
The ceasefire agreement remains provisional. Trump described it as a “double‑sided ceasefire” and asserted that the United States had “already met and exceeded all military objectives.” Iran confirmed a suspension of hostilities but hedged its stance, leaving open the possibility of oil tankers transiting the Strait of Hormuz under a two‑week review. The market reaction illustrates how quickly geopolitical signals can reshape leveraged positions across both crypto and traditional asset classes.
