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

Apr 08, 2026 04:25 UTC

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

  • Days of bearish positioning unraveled in about two hours on Tuesday night as bitcoin surged past $72,700 after Trump confirmed a two-week ceasefire with Iran via Truth Social just before his 8 p
  • m
  • ET deadline

Days of bearish positioning unraveled in about two hours on Tuesday night as bitcoin surged past $72,700 after Trump confirmed a two-week ceasefire with Iran via Truth Social just before his 8 p.m. ET deadline. The move triggered $595 million in total crypto liquidations across 118,489 traders, according toCoinGlass data. Short positions accounted for $427 million versus $168 million in longs, a ratio of more than 2.5-to-1 that reflects just how heavily the market was positioned for further downside heading into the deadline. The largest single liquidation was an $11.79 million BTC-USDT short

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