Bitcoin surged to $72,700 after U.S. President Donald Trump announced a two-week Iran ceasefire, igniting a crypto rally.

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Ether gained 6% to $2,250. Over $600 million in futures bets were liquidated, with bearish shorts accounting for $420 million. The sudden de-escalation reversed market momentum.

Privacy coin Zcash (ZEC) soared 23%, while MON, ZRO, NEAR, and RENDER also saw strong gains. The CoinDesk 20 (CD20) index rose 4.9%.

Oil prices dropped, with Brent crude falling to $94 per barrel. Bitcoin’s 30-day implied volatility fell to 46%, signaling market calm.

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Zcash’s encryption model gains traction amid scaling blockchain data. Traders are aggressively chasing short positions, reflected in high perpetual funding rates.

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MEXC’s new CEO Vugar Usi plans to expand the exchange into a 'trade everything' platform for retail investors, leveraging viral sentiment trends.

Bitcoin must break $75,000 to confirm a breakout. Analysts watch the ceasefire's duration closely for further market direction.