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Bitcoin rebounded to its last week’s high of $69,509 after reports emerged of a possible 45-day ceasefire between the U.S. and Iran. The move lifted major altcoins as well, with Ethereum, XRP, Solana, and Dogecoin each up between 3% and 5%.
Multiple U.S., Israeli, and regional sources said Washington and Tehran are discussing a 45-day ceasefire that could serve as a pathway to a longer-term agreement.
The proposed framework is described as two stages. The first stage would be a 45-day pause to allow negotiations. The second stage would target a permanent end to the conflict. Topics reportedly include reopening the Strait of Hormuz, addressing Iran’s uranium stockpile, and discussing compensation for losses related to the conflict.
Last week, Trump said the U.S. is in “deep negotiations” with Iran and expects a deal before a stated deadline.
Even with the ceasefire talks, attention remains on Trump’s 6-day deadline, set to end on 7 April.
Trump has warned that if a deal is not reached, the U.S. could carry out strikes and retaliation targeting Gulf energy facilities.
In the latest ultimatum, Trump set 7 April at 8 PM Eastern Time, demanding Tehran reopen the Strait of Hormuz or face potential military action.
The deadline follows a sequence of earlier timeframes that have been adjusted multiple times: Trump gave Iran 48 hours on March 21, extended it by five days on March 23, pushed it back by ten days on March 26, reset it to 48 hours again on April 4, and most recently postponed it to April 7 at 8 PM ET.
Despite the reported ceasefire proposal, experts cited in the article said the likelihood of reaching a deal before the deadline remains very unlikely.
After the news, Bitcoin rose about 4%, moving from $66,000 to $69,509. Over the past 24 hours, the crypto market recorded $246.9 million in liquidations, including nearly $200 million from short positions.
Despite the rebound, Bitcoin is still described as trading within a broader consolidation range. Crypto trader Jelle said Bitcoin is retesting a bearish flag, though the pattern is losing strength. Jelle also pointed to the 200-week EMA as a strong support level, suggesting Bitcoin could trade sideways before a clearer trend develops.
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