reported<\/a> that the US, Iran, and a group of regional mediators are discussing terms for a potential 45-day ceasefire. The report, citing four US, Israeli, and regional sources, sent fresh capital flowing into risk assets on the first trading day after Easter.<\/p>\nEthereum climbed as much as 5.1% alongside Bitcoin, while the total crypto market cap crossed back above $2.5 trillion. Major altcoins followed, with SOL, XRP, and DOGE all registering gains.<\/p>\n
Islamabad Accord Puts Ceasefire Talks on the Map<\/h1>\n
Pakistan is brokering what sources describe as the \u201cIslamabad Accord,\u201d a two-phase deal that would begin with a 45-day ceasefire and transition into negotiations for a permanent end to the conflict. The plan also envisions the reopening of the Strait of Hormuz, the key shipping lane that has remained closed since the war began six weeks ago.<\/p>\n
<\/p>\n
A White House official confirmed the proposal is under active consideration but told reporters: \u201cThe President has not signed off on it. Operation Epic Fury continues.\u201d Trump, who extended his strike deadline on Iran to Tuesday at 8 pm ET, told Axios he is \u201cin deep negotiations\u201d with Tehran, adding: \u201cThere is a good chance, but if they don\u2019t make a deal, I am blowing up everything over there.\u201d<\/p>\n
Six Weeks of Conflict Have Kept Crypto Range-Bound<\/h2>\n
The US-Iran war has kept roughly 20% of global crude supply constrained behind the closed Strait of Hormuz, sustaining oil prices at elevated levels and dampening risk appetite since the conflict began. Bitcoin had already been weighed down by weeks of escalation headlines, with the asset trading within a $65,000 to $73,000 range even as ceasefire rumors produced repeated short-term spikes. Prior diplomatic attempts collapsed after Iran rejected earlier terms, keeping the strait closed and pressure on risk markets intact.<\/p>\n
$273 Million in Shorts Cleared, Open Interest Signals Fresh Capital<\/h2>\n
Coinglass data shows $273 million in bearish crypto bets were liquidated within 24 hours of the ceasefire reports surfacing. Short positions made up the overwhelming majority of losses, reflecting how heavily traders had positioned for further downside heading into the holiday weekend.<\/p>\n
Bitcoin\u2019s notional open interest rose 7%, and Ethereum\u2019s climbed 11%, both outpacing spot price gains. As crypto.news noted, rising open interest alongside positive funding rates suggests fresh capital entering the market rather than a pure short squeeze. Polymarket currently gives the ceasefire roughly 30% odds by April 30, up from 18% before the Islamabad Accord came to light.<\/p>\n
Whether the deal clears Trump\u2019s Tuesday deadline remains the critical variable. Any breakdown in talks risks an immediate reversal, with analysts flagging $65,000 to $66,000 as the key support zone to watch if ceasefire optimism fades.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
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