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Is the Strait of Hormuz set to reopen soon? Bitcoin briefly surged 7%, with more than $400 million in short liquidations
Iran and the U.S. reach a two-week temporary ceasefire deal, with conditions requiring Iran to reopen the Strait of Hormuz. Bitcoin breaks through $72,000; liquidations of short positions in the derivatives market exceed $400 million, and positioning structures face a reset.
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