More than 260 million dollars in short positions were wiped out within a single hour as the market reacted sharply.
The price of Bitcoin reversed its recent downward movement in the past hour, jumping by about 3,000 dollars from its low to reach 71,500 dollars before easing slightly.
The sudden rally followed a major announcement from Donald Trump regarding tensions involving Iran, the United States, and Israel. In a statement shared on his social media platform, Trump said that the US and Iran had engaged in constructive discussions over the past two days aimed at fully resolving hostilities in the Middle East.
He added that, based on the positive tone of these talks, he had instructed the Department of War to delay any planned military action against Iranian energy infrastructure for five days, depending on the outcome of ongoing negotiations.
This marks the most notable step toward easing tensions since the conflict began nearly a month ago. It also comes shortly after Trump had warned of severe consequences if Iran failed to reopen the Strait of Hormuz.
Market Reacts Instantly
Bitcoin responded immediately to the news. The asset had earlier fallen below 68,500 dollars before quickly climbing to 71,500 dollars, its highest level since last Thursday.
Although the price has pulled back slightly, it remains close to 71,000 dollars. The rapid upward move caught many short traders off guard, leading to nearly 270 million dollars in liquidations within an hour.
According to data from CoinGlass, total liquidations for the day have reached around 780 million dollars, with more than 200,000 traders affected by the sudden market shift.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
