Bitcoin rose 4% in two hours to a reported nine-month high of $85,299, while the broader crypto market gained more than 2.25% over 24 hours. The source gives no unambiguous date for the rebound, and its latest quoted Bitcoin price was $84,537.
According to CoinGlass data cited in the report, nearly $450 million in crypto positions were liquidated over four hours. The report says almost $650 million of the $750 million liquidated over 24 hours came from short positions, and it attributes the recovery to those liquidations. It also cites hopes of an end to the US-Iran war and inflows into spot Bitcoin and Ethereum ETFs, but does not establish that they caused the price rise.
