Bitcoin rose 6% to over $72,000 following a ceasefire announcement between the US and Iran, leading to a significant liquidation event in futures markets. However, bearish sentiment persists as many positions remain open.
The recent ceasefire between the US and Iran has spurred a rally in Bitcoin and global stock markets. In less than four hours, Bitcoin surged 6%, resulting in a $280 million liquidation in futures markets. Despite this, data indicates that many BTC bears have not yet closed their positions, suggesting potential volatility ahead.