Bearish bets lose $430 million as BTC, ETH surge as much as 7%

What Happened

Bitcoin surged 4.8% to $74,484, breaking a key resistance level rejected three times in eight days. The move triggered $534 million in crypto liquidations across 180,000 traders, with $430 million from short positions. Ether jumped 7.7% to $2,366, leading major cryptocurrencies. Trump's willingness to resume Iran talks eased geopolitical tensions. The S&P 500 erased Iran conflict losses, and Brent crude fell 1.3% to $98.

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