🔥The US-Iran ceasefire agreement boosts Bitcoin prices, with bears not rushing to close positions or indicating a potential pullback

On April 9, following the impact of the US and Iran reaching a two-week ceasefire agreement and a rise in global stock markets, Bitcoin surged 6% within four hours, leading to $280 million in short positions being liquidated. Analysis indicates that although open interest increased by 2.5% to 593,930 BTC, the bullish momentum in the derivatives market remains limited, with no significant position changes, and bears are not rushing to close their positions. Inflation pressures persist, with Brent crude oil prices remaining at $95 per barrel, higher than the $72 per barrel at the end of February. The two-week ceasefire is not a long-term solution, and there is still a possibility that Bitcoin's price could pull back to $68,000.
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