Bitcoin, ether, oil shorts lead $427 million wipeout on US-Iran ceasefire

What Happened

Bitcoin jumped above $72,700 on Tuesday after Trump confirmed a two-week ceasefire with Iran. The move triggered $595 million in crypto liquidations across 118,489 traders. Short positions accounted for $427 million of liquidations. Bitcoin saw $245 million liquidated, ether $126 million. Oil prices fell over 10%, with crude contracts liquidating $75 million combined. The squeeze lasted 12 hours, the most aggressive since March.

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