Bitcoin reclaims $69,000 as ceasefire talks surface and crypto shorts get squeezed

A report that the U.S. and Iran are discussing a 45-day ceasefire lifted risk assets across the board on Monday, with short liquidations outpacing longs nearly 3-to-1 in the past 12 hours. What to know : Bitcoin jumped about 3 percent to roughly $69,000, its highest level in more than a week, as traders returned from the Easter break and covered heavily skewed short positions. The rally, sparked by reports of talks over a potential 45-day Iran ceasefire and easing concerns about shipping through the Strait of Hormuz, lifted major tokens and pushed the total crypto market value back above $2.5 trillion. Despite the sharp bounce and a squeeze of nearly $200 million in short positions, bitcoin remains confined to its recent $65,000 to $73,000 war range, with key resistance levels still overhead and the outlook hinging on whether a ceasefire deal materializes.