More than $273 million in bearish crypto positions were unwound in under 24 hours on April 6, as reports of US-Iran ceasefire talks triggered a sudden and sharp shift in market sentiment.
Summary
- Bloomberg reported that roughly $273 million in bearish crypto bets were unwound within 24 hours as ceasefire headlines hit, with short sellers accounting for the overwhelming majority of losses
- Ethereum led altcoin gains with a 5.1% move, while Bitcoin climbed more than 3% and the total crypto market cap crossed back above $2.5 trillion
- Rising open interest in both Bitcoin and Ethereum outpaced spot price gains, pointing to fresh capital entering the market rather than a purely…
