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Over $273 million in bearish crypto positions were unwound in less than 24 hours on April 6, due to reports of US-Iran ceasefire talks causing a shift in market sentiment. Bitcoin and Ethereum saw gains, with open interest rising, indicating new capital entering the market. Traders had bet on a range between $65,000 to $73,000 holding, but the ceasefire news disrupted that positioning. The market remains cautious as a ceasefire deal could impact oil prices and inflation.
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