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Liquidations Surge as Bitcoin Price Pumps and Dumps on US-Iran Deal Reports
TL;DR
Bitcoin surged to a 12-week high of nearly $80,000 before dropping by $2,000 in an hour, driven by reports of a potential US-Iran deal. The deal may involve reopening the Strait of Hormuz and delaying nuclear negotiations.
Key points
- Bitcoin surged to a 12-week peak of nearly $80,000
- Price dropped by $2,000 in an hour
- Reports of a potential US-Iran deal emerged
- Deal may involve reopening the Strait of Hormuz
- Nuclear negotiations are postponed
Mentioned in this story
USIranDonald Trump
Bitcoin broke out of the weekend slumber, surging to a 12-week peak of just under $80,000 before it was brutally rejected and driven south by roughly two grand in an hour or so.
The most obvious reason behind this rather unexpected Monday morning pump came after reports emerged that Iran and the US could be inching closer to a deal.
A New Deal?
The Kobeissi Letter cited information from Axios, which reads Iran has provided the US a new proposal for reaching a deal on the reopening of the Strait of Hormuz and ending the war through Pakistani mediators.
The known details as of press time include postponing 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, he canceled the trip of the US delegation, led by Steve Witkoff and Jared Kushner, to Pakistan shortly after the Iranian counterparties left the country without opening any talks.
The report also claimed that Trump wants to continue the US Navy blockade of the Strait of Hormuz, a step that sabotaged the previous peace talks and pushed Iran to reclose the key passage.
BREAKING: Iran through Pakistani mediators has given the US a new proposal for reaching a deal on the reopening of the Strait of Hormuz and ending the war, per Axios.
Details include:
Nuclear negotiations are postponed for a later stage under the deal
President Trump is…
— The Kobeissi Letter (@KobeissiLetter) April 27, 2026
Crypto Market Reaction
BTC’s price reacted with intense and immediate volatility after the report went live. Despite the weekend developments, which included an alleged attempt on Trump’s life, the asset had remained sideways at around $78,000.
However, it shot up to a 12-week peak of over $79,500 before it was halted and pushed to well below its starting point. Most altcoins followed suit, causing an uptick in the total value of liquidated positions, which is up to $275 million on a daily scale. The lion’s share came in the past 6 hours or so when the fluctuations transpired.
Q&A
What caused the recent surge in Bitcoin's price?
The surge in Bitcoin's price was primarily driven by reports of a potential deal between the US and Iran.
What are the details of the US-Iran deal regarding the Strait of Hormuz?
The deal reportedly involves reopening the Strait of Hormuz and postponing nuclear negotiations, with Pakistani mediators facilitating the discussions.
How much did Bitcoin drop after reaching its peak price?
After reaching a peak of just under $80,000, Bitcoin dropped by approximately $2,000 within an hour.
