Bitcoin rebounds to $71K as oil drops after Trump signals pause on Iran strikes
24.03.2026
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Bitcoin moved back above $71,000 after US President Donald Trump postponed Iran strike for five days, sending oil price crashing below $100.
Bitcoin erases weekend losses with 5% rebound
BTC just pulled a 4.7% pump in 60 minutes, hitting $71,500 and wiping out three days of losses. Last time we saw $71K was March 19 — feels like forever in crypto time.
The trigger? Trump announced a 5-day pause on planned US strikes against Iranian power plants after "very good and productive" talks with Tehran.
And this shall henceforth be known as the 'TACO PUMP.'
Coinbureau CEO Nic Puckrin dropping the perfect meme for this geopolitical price action.
- • $270M in short positions liquidated in one hour
- • $120M of that was BTC shorts
- • Total crypto market liquidations: $781M over 24 hours
Macro dominoes: Gold clawed back to -1% at $4,440/oz, DXY slipped to 99.3. But the real move? Oil crashed 16% to $92 from $110 — WTI crude below $85 for the steepest drop since late 2025.
Plot twist: Iranian officials denied "productive talks," said no concessions were made, and demanded full halt to US/Israel actions first. So... maybe not so resolved?
Bitcoin price fills CME gap at $70,000
BTC started the week with a fat CME gap at $70K — now filled. Next target? The $80K region gap. Classic gap-fill theory playing out.
Liquidation heatmap shows BTC eating ask orders below $72K. Break above that and we're eyeing $75K where the next major liquidity cluster sits.
The $64K-$65K region is interesting. Currently there's a lot of fear for the latter which is why most markets have been selling off a lot the past few trading days.
Analyst Daan Crypto Trades keeping it real about downside risks while everyone's hyped on the pump.
#Geopolitics#Position Liquidation#Bitcoin price increase#Technical analysis
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