🟠 BTC nears $75K: Iran deal hopes spark a short squeeze

Bitcoin ran up to nearly $75,000, hitting its highest level in about a month. The move was sharp because derivatives did the heavy lifting — a wave of short closures pushed price up fast.

📊 What happened
— 24h liquidations across crypto: $530M, around 177,000 traders hit
— Most of it happened in the last 12 hours
— Roughly $425M of liquidations were shorts (mostly BTC and ETH)
— Total crypto market cap climbed to $2.6T — a one-month high
— ETH also popped: about +7.5% to ~$2,380

🧠 Why now
The main driver is hope that the US and Iran are moving closer to a deal and tensions could ease. When markets feel “risk pressure” fading, capital tends to flow back into higher-risk assets — crypto included.

⚠️ One key nuance
BTC tapped $75K and got rejected quickly — there’s heavy selling there. That’s why some traders see this as a short squeeze into resistance, not a clean breakout yet.

📌 Bottom line
The move is strong, but the next question is simple: can BTC hold above $75K? If not, price can slip back into range mode. If yes, upside continuation becomes much more realistic. Keep the key levels on screen and watch Iran headlines.

Satoshi Tweeted🔑