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Bitcoin (CRYPTO: BTC) surged 5% after the White House announced a two-week U.S.-Iran ceasefire, yet ETFs bled $159 million on April 7.
The Ceasefire Rally
Bitcoin briefly rose to $71,700 on Wednesday morning, marking its highest point since March 18.
Ethereum (CRYPTO: ETH) posted a 6% gain to $2,238, XRP (CRYPTO: XRP) rose 3.5% to $1.37, and Solana (CRYPTO: SOL) added 6.5% to $84.81.
The price surge coincided with President Trump’s announcement that the U.S. and Iran agreed to a “double-sided ceasefire” for two weeks.
Trump previously warned of “complete demolition” of Iran’s power plants and bridges if Iran didn’t reopen the Strait of Hormuz by Tuesday.
“The reason for [ceasefire] is that …
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