As traders return after Easter, Bitcoin has reclaimed $69,000. Reports of Iran's ceasefire negotiations and easing concerns over the Strait of Hormuz pushed the market higher, with Monday's rebound reaching about 3%. This movement involved pressure on short positions, with approximately $196 million worth of shorts liquidated within 24 hours. At a major exchange, over $10 million in ETH-USDT shorts were recorded as the largest single liquidation.

Currently, Bitcoin is trading in the $72,000 range, Ethereum around $2,200, Solana over $84, XRP near $1.34, and Dogecoin around $0.09. The total market capitalization of cryptocurrencies has again surpassed $2.5 trillion. However, despite regaining $69,000, Bitcoin remains within the war range of $65,000 to $73,000, with key resistance levels at $71,500 and $81,200 overhead.

Interestingly, sentiment just before the rally was the most bearish since the start of the war. As is common in crypto markets, the worst psychological state triggered the sharpest rebound. However, whether this rise will be sustainable depends entirely on whether a 45-day ceasefire can be achieved.