Bearish bets lose $430 million as BTC, ETH surge as much as 7%

The six-week range that capped every rally at $73,000 finally broke on Monday as stocks erased all Iran war losses and Trump signaled willingness to resume peace talks. What to know : Bitcoin broke through the closely watched $73,000 ceiling to hit $74,484, its highest level since before the Iran war began, after President Trump signaled openness to renewed talks with Tehran. The surge triggered about $534 million in crypto liquidations, mostly from short positions, as ether and other major tokens outperformed and every top-10 asset posted daily and weekly gains. While risk assets rallied and oil and Treasury yields eased, traders see bitcoin’s next key resistance near $79,000, even as geopolitical risks persist with a U.S. blockade of the Strait of Hormuz and an Iran cease-fire set to expire next week.(Coindesk)