Bitcoin (BTC) Price: Jumps 3% to $69,000 as Iran Ceasefire Talks Spark Short Squeeze
TLDR
Bitcoin rose ~3% to $69,120, its highest price in over a week
A report of potential 45-day Iran ceasefire talks sparked the rally
Nearly $200 million in short positions were liquidated in 24 hours
The total crypto market cap climbed back above $2.5 trillion
BTC remains within its $65,000–$73,000 range with resistance at $71,500
Bitcoin climbed about 3% to $69,120 on Monday as traders returned from the Easter weekend to news of possible Iran ceasefire talks. The move pushed BTC to its highest level in more than a week.
The rally was triggered by an Axios report stating that the U.S., Iran, and regional mediators are discussing a 45-day ceasefire that could permanently end the six-week-old conflict. Reports of ships moving through the Strait of Hormuz added to the optimism.
NEW: The U.S., Iran and a group of mediators are discussing terms for a potential 45-day ceasefire.
Sources said the chances for a deal in the next 48 hours are slim. But this last-ditch effort is the only chance to prevent a dramatic war escalation. https://t.co/xQLRV3mUA3
— Axios (@axios) April 6, 2026
The move came after social sentiment data from Santiment showed the most bearish skew since the war began — five negative posts for every four positive ones over the weekend. Markets reversed sharply from that low-sentiment point.
Short sellers were caught off guard. Of the $273.8 million in total liquidations across 81,819 traders in 24 hours, $196.7 million were short positions compared to $77.1 million in longs — a nearly 3-to-1 ratio. The largest single liquidation was a $10.17 million ETH-USDT short on Binance.
$BTC shorts got wiped out in just one candle.
Now, longs are entering again. pic.twitter.com/4D3EM3dQ9X
— Ted (@TedPillows) April 5, 2026
President Trump sent mixed signals on Sunday. In a post on Truth Social, he threatened Iran would be “living in Hell” if the Strait of Hormuz is not reopened by Tuesday. He also said in a Fox News interview that Iran is “negotiating now” and gave a deal a “good chance” within 24 hours.
BREAKING: President Trump tells Iran “open the f***** Strait of Hormuz, you crazy bastards, or you’ll be living in hell.”
Trump declares Tuesday as “power plant and bridge day.” pic.twitter.com/OyGu44aleV
— The Kobeissi Letter (@KobeissiLetter) April 5, 2026
Altcoins Follow Bitcoin Higher
Other major tokens gained alongside BTC. Ether rose 3.7% to $2,130. SOL added 2% to $82, XRP climbed 2.2% to $1.34, and Dogecoin rose 1.7% to $0.093. The total crypto market cap moved back above $2.5 trillion, up around $70 billion on the day.
Oil prices also moved, with crude rising to around $112 per barrel. The Kobeissi Letter noted that if prices stay at current levels for another seven weeks, U.S. CPI inflation could reach around 3.7%.
Key Price Levels to Watch
Bitcoin’s 24-hour range ran from $66,634 to $69,350. The price broke above a bearish trend line at $67,650 on the hourly chart and is now trading above the 100-hour simple moving average.
$BTC is trading below the $67,000 level.
The key support zone is $65,000-$66,000 and if Bitcoin loses it, a dump below $60,000 could happen soon. pic.twitter.com/Xr5nInGHNP
— Ted (@TedPillows) April 5, 2026
Immediate resistance sits at $69,250 and $69,500. A close above $69,500 could open a move toward $70,000 and then $71,500. Support levels are at $68,500, then $67,500, which aligns with the 50% Fib retracement of the recent swing.
BTC still trades within the $65,000–$73,000 range that has held for five weeks. The next major resistance levels sit at $71,500 and $81,200, based on the Lower Band and Trader On-chain Realized Price indicators tracked by CoinDesk.
The post Bitcoin (BTC) Price: Jumps 3% to $69,000 as Iran Ceasefire Talks Spark Short Squeeze appeared first on CoinCentral.
Filed under: News - @ April 6, 2026 6:27 am