Bitcoin Surges Past $78,000 with $820M Liquidated Amid Easing Geopolitical Tensions

The cryptocurrency market witnessed a dramatic reversal as Bitcoin (BTC) surged past the $78,000 mark, reaching a new 10-week high. This bullish momentum triggered a massive wave of liquidations totaling $820 million, with short positions specifically accounting for $585 million of the total wipeout. Analysts attribute this significant price action to the easing of geopolitical tensions following Iran's announcement that the Strait of Hormuz is fully open to commercial shipping. However, a market contradiction has emerged where price indexes remain green, yet overall sentiment is failing to follow the bullish trend. These movements underscore the heightened sensitivity of digital assets to global political developments and the current divergence between price and psychology. Traders are now closely watching new support levels to determine if the rally can be sustained despite the lagging sentiment.