Bitcoin surged 7% as bearish bets lost $430 million on Monday.

Current market state with $BTC at $66,000 (0% 24h), $ETH at $3,200 (0% 24h), and $BNB at $600 (0% 24h).

The six-week range that capped every rally at $73,000 finally broke on Monday as stocks erased all Iran war losses and Trump signaled willingness to resume peace talks, triggering a short squeeze.

This resulted in a significant loss of $430 million for bearish bets, highlighting the risks of shorting in a rapidly changing market.

The breakout above $73,000 could lead to a short-term rally towards $75,000 for $BTC and $3,500 for $ETH.

My analyst take is bullish, as the market seems to be shifting in favor of buyers.

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