Liquidations surge as Bitcoin prices rise and fall on reports of deal between the US and Iran

Over $140 million worth of shorts have been destroyed in the last 12 hours alone.

Bitcoin emerged from its slumber over the weekend, rising to a 12-week high of just under $80,000 before being brutally rejected and pushed south by nearly $2,000 in an hour or so.

The most obvious reason behind this somewhat unexpected injection on Monday morning came after reports emerged that Iran and the United States may be close to reaching an agreement.

New deal?

Kubeisi’s letter cited information from Axios, saying that Iran had presented the United States with a new proposal to reach an agreement on reopening the Strait of Hormuz and ending the war through Pakistani mediators.

Details known at the time of publication include postponing the nuclear negotiations to a later stage. US President Donald Trump is expected to hold a meeting with his top national security and foreign policy team on Monday to discuss how to move forward.

Previously, it was Canceled The US delegation, led by Steve Witkoff and Jared Kushner, traveled to Pakistan shortly after the Iranian parties left the country without opening any talks.

The report also claimed that Trump wants to continue the US naval blockade of the Strait of Hormuz, a move that sabotaged previous peace talks and prompted Iran to re-close the key passage.

BREAKING: Iran, through Pakistani mediators, has submitted to the United States a new proposal to reach an agreement on reopening the Strait of Hormuz and ending the war, according to Axios.

Details include:

1. Postponing the nuclear negotiations to a later stage according to the agreement

2. President Trump…

– Al Qubaisi Letter (@KobeissiLetter) April 27, 2026

You may also like:

Crypto market reaction

BTC price reacted with extreme and immediate volatility after the report was published. Despite the weekend’s developments that… It included an alleged attempt Over Trump’s lifetime, the asset remained sideways at around $78,000.

However, it reached a 12-week peak of over $79,500 before being halted and pushed well below its starting point. Most altcoins followed suit, resulting in a slight rise in the total value of liquidated positions, reaching $275 million on a daily scale. The lion’s share came in the last six hours or so when fluctuations appeared.