Bitcoin recorded a significant surge and crossed the 72,700 dollar mark, approaching the 73,000 dollar level, following the announcement by US President Donald Trump of a two-week ceasefire with Iran.

The market movement triggered massive liquidations totaling approximately 595 million dollars across over 118,000 traders. Short positions suffered losses of 427 million dollars compared to 168 million dollars in long positions, indicating the market was predominantly positioned for a decline before the unexpected turnaround.

The largest single liquidation amounted to 11.79 million dollars - a BTC-USDT short position on the Binance exchange. Bitcoin accounted for 245 million dollars in total liquidations, while Ethereum recorded liquidations of 126 million dollars.

Just one week earlier, the fear and greed index had registered a value of just 8 - extreme pessimism among investors. The sudden reversal of sentiment after the diplomatic breakthrough triggered one of the most intense 12-hour liquidation periods with a total of 508 million dollars.

The ceasefire remains conditional - Iran confirmed a temporary halt to hostilities but with restrictions regarding the Strait of Hormuz and tanker movement. The crypto market continues to follow geopolitical developments as a key indicator of investor sentiment.