Key Highlights
- BTC surged approximately 3% to reach $69,120, marking its strongest price point in over eight days
- News of potential 45-day ceasefire negotiations involving Iran fueled the upward momentum
- Short position liquidations totaled approximately $200 million within a 24-hour period
- Overall cryptocurrency market capitalization crossed the $2.5 trillion threshold
- Bitcoin continues trading within its established $65,000–$73,000 corridor with key resistance near $71,500
Bitcoin experienced a notable 3% surge to $69,120 on Monday as market participants digested reports of potential ceasefire negotiations involving Iran following the Easter holiday weekend. This price movement marked the cryptocurrency’s strongest performance in more than a week.
The upward momentum originated from an Axios news report indicating that the United States, Iran, and regional intermediaries are engaged in discussions regarding a 45-day ceasefire agreement that could bring a conclusive end to the conflict that has persisted for six weeks. Additional reports of maritime traffic resuming through the Strait of Hormuz contributed to the positive market atmosphere.
🚨 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
This price action followed data from Santiment revealing that social sentiment had reached its most pessimistic levels since the conflict’s inception — with a ratio of five negative comments for every four positive ones throughout the weekend. The market rebounded decisively from this sentiment low.
Bearish traders faced significant losses. Out of $273.8 million in total liquidations spanning 81,819 traders over 24 hours, short positions accounted for $196.7 million compared to just $77.1 million in long positions — representing an almost 3-to-1 disparity. The most substantial single liquidation involved a $10.17 million ETH-USDT short position 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 delivered contradictory statements on Sunday. Through a Truth Social post, he warned Iran would experience consequences if the Strait of Hormuz remains closed beyond Tuesday. However, he also indicated during a Fox News interview that Iran is “negotiating now” and expressed optimism about reaching an agreement 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
Alternative Cryptocurrencies Mirror Bitcoin’s Gains
Major alternative cryptocurrencies advanced in tandem with BTC. Ethereum increased 3.7% to $2,130. Solana gained 2% reaching $82, Ripple climbed 2.2% to $1.34, and Dogecoin appreciated 1.7% to $0.093. The aggregate cryptocurrency market capitalization returned above $2.5 trillion, representing approximately $70 billion in daily gains.
Crude oil prices simultaneously advanced, with prices climbing to approximately $112 per barrel. Analysis from The Kobeissi Letter suggested that sustained prices at current levels for another seven weeks could push U.S. CPI inflation toward approximately 3.7%.
Critical Technical Levels Under Surveillance
Bitcoin’s 24-hour trading range extended from $66,634 to $69,350. The asset successfully breached a descending trend line at $67,650 on hourly charts and is currently positioned above its 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
Near-term resistance emerges at $69,250 and $69,500. A decisive close above $69,500 could establish momentum toward $70,000 and subsequently $71,500. Support zones are identified at $68,500, followed by $67,500, which corresponds with the 50% Fibonacci retracement level of the recent price swing.
BTC remains confined within the $65,000–$73,000 range that has persisted for five consecutive weeks. The subsequent major resistance barriers are positioned at $71,500 and $81,200, according to Lower Band and Trader On-chain Realized Price metrics monitored by CoinDesk.
