Overview
- Bitcoin, which climbed to about $69,000 Monday, bounced on reports of U.S.–Iran talks over a 45‑day ceasefire that eased some war fears.
- Short sellers took most of the losses during the rebound, with about $196.7 million of $273.8 million in 24‑hour liquidations coming from shorts, and Crypto Briefing flagged a $65 million wipeout earlier in the move.
- Prices remain locked in a $65,000 to $73,000 range and traders say follow‑through now hinges on whether ceasefire talks stick and shipping risks in the Strait of Hormuz continue to ease.
- On‑chain data show large holders realized about $30.9 billion in losses in Q1 and roughly 46% of coins now sit below their purchase price, while record March spot‑ETF buying and a new low‑fee Morgan Stanley fund helped absorb supply.
- Analysts also point to roughly $3.5 billion of Tether on Binance as deployable “dry powder,” though they warn a lasting turn higher likely needs continued ETF inflows and calmer geopolitics to avoid a retest of long‑watched support near the $54,000 realized price.