{"id":40937,"date":"2026-04-14T11:30:45","date_gmt":"2026-04-14T11:30:45","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=40937"},"modified":"2026-04-14T11:30:45","modified_gmt":"2026-04-14T11:30:45","slug":"hope-for-iran-deal-sparks-risk-on-rally-bitcoin-nears-75k","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=40937","title":{"rendered":"Hope For Iran Deal Sparks Risk-On Rally, Bitcoin Nears $75K"},"content":{"rendered":"

A wave of forced liquidations swept through crypto markets on Tuesday as traders who had bet against Bitcoin and Ether were caught off guard by a sharp price surge tied to hopes of a US-Iran agreement.<\/a><\/p>\n

Around 80% of the $530 million in total liquidations over 24 hours \u2014 roughly $425 million \u2014 came from leveraged short positions in the two largest cryptocurrencies.<\/p>\n

Bitcoin<\/a> touched just under $75,000 on CoinMarketCap, a level not seen in nearly a month, before running into heavy resistance and retreating to about $74,655. Ether made an even bigger move, climbing 7% to reach $2,378 \u2014 its highest point since early February.<\/p>\n

\"\"<\/p>\n

Geopolitical Hopes Fuel The Move<\/h2>\n

The rally came as markets began pricing in the possibility of a negotiated end to weeks of tension<\/a> between Washington and Tehran. Jeff Mei, chief operating officer at crypto exchange BTSE, said traders believe the two sides are drawing closer to an agreement.<\/p>\n

Iran\u2019s oil exports are central to its economy, and a US blockade<\/a> of the Strait of Hormuz shipping lane could put severe pressure on the country to come to the table.<\/p>\n

\u201cNow, it appears that Iran is frantically looking to broker a deal, and stock and crypto markets are rallying as a response,\u201d Mei said.<\/p>\n

\"\"<\/p>\n

US President Donald Trump confirmed Monday that a military blockade had begun. He threatened to eliminate<\/a> any Iranian vessels that come near. Trump also told reporters Iran wants to reach a deal, but his administration will not sign anything that allows Tehran to pursue nuclear weapons.<\/p>\n

The broader crypto market climbed to a total value of $2.6 trillion \u2014 its highest in a month \u2014 as the news spread. About 177,000 traders were liquidated across markets over a 24-hour period, according to data<\/a> from CoinGlass.<\/p>\n

<\/p>\n

Not Everyone Is Convinced<\/h2>\n

The rapid price jump did not go unquestioned. Valerius Labs, a market analyst, pushed back on the idea that the move signals a genuine recovery. \u201cThis isn\u2019t a breakout,\u201d the firm said. \u201cIt\u2019s a short squeeze running into overhead supply. Real buyers show up above the 200-day simple moving average, not 15% below it.\u201d<\/p>\n

Some analysts reported that over $300 billion in crypto short positions were wiped out in just a few hours, adding more than $100 billion to the total market cap in the process.<\/p>\n

Beyond the short squeeze, other forces may also be at work. Reports indicate that institutional buying through spot crypto exchange-traded funds, along with purchases by centralized exchanges, could be adding fuel to Bitcoin\u2019s climb. Still, the rejection at $75,000 resistance kept the bulls from claiming a clean win.<\/p>\n

Featured image from Getty Images, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

A wave of forced liquidations swept through crypto markets on Tuesday as traders who had bet against Bitcoin and Ether were caught off guard by a sharp price surge tied to hopes of a US-Iran agreement. 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