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Bitcoin surged past $70,000 for the first time since March as traders unwound bearish positions. The cryptocurrency rose over 4%, with Ethereum and Solana also seeing gains. The rally follows Iran's rejection of a ceasefire and escalating tensions. O

2026-04-07

Bitcoin surged past $70,000 for the first time since March as traders unwound bearish positions. The cryptocurrency rose over 4%, with Ethereum and Solana also seeing gains. The rally follows Iran's rejection of a ceasefire and escalating tensions. Over $145 million in short positions were liquidated, with markets tightening. According to Diana Pires of sFOX, "Once ceasefire headlines hit, that positioning had to unwind." Institutional selling pressure eased, but liquidity remains thin. More inflows are needed for a durable rally.

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