Bitcoin, ether, oil shorts lead $427 million wipeout on US-Iran ceasefire
CoinDesk
Short sellers lost $427 million as a surprise US-Iran ceasefire caused a sudden surge in bitcoin prices and a collapse in oil.Summary
Following the announcement of a two-week ceasefire between the U.S. and Iran, crypto and commodity markets experienced a massive short squeeze. Bitcoin surged past $72,700, while oil prices dropped by over 10%. Data from CoinGlass indicates that $595 million in liquidations occurred within 24 hours, with $427 million of that total coming from bearish short positions that had bet on continued conflict. The market, which had been positioned heavily for further downside due to ongoing geopolitical tensions, was caught off guard by the diplomatic developments.
(Source：CoinDesk)