The news of a ceasefire has caused Bitcoin prices to move again. Coming after Easter on Monday, and at the timing when Iran's 45-day ceasefire negotiations surfaced, it seems short positions were suddenly swept up. Bitcoin's price has regained the $69,000 level, reaching the highest point in the past week.

With traders returning, the liquidation of about $200 million in shorts was significant. Especially, the easing of concerns over ships passing through the Strait of Hormuz seemed to instantly shift the risk-off sentiment. Ethereum rose by 3.7% to $2,130, SOL reached $82, and XRP hit $1.34. The total market capitalization also exceeded $2.5 trillion, indicating substantial buying activity.

However, Bitcoin's upward potential remains limited, staying within the range of $65,000 to $73,000. Since the start of the war, it has not been able to break out of this channel. The next key resistance levels are at $71,500 and $81,200. Whether this rebound continues will likely depend on whether the ceasefire agreement truly materializes.

Sentiment-wise, it’s interesting that despite being the most bearish since the war began, prices have risen this much. It’s a clear example of how markets tend to make the sharpest rebounds amid extreme pessimism.