Bitcoin rose 7% to $72,700 during Tuesday's New York session after US President Donald Trump confirmed a two-week ceasefire with Iran. Oil fell below $100 a barrel, and total crypto liquidations reached $610 million over the last 24 hours. BTC short liquidations accounted for $214.8 million of the $431 million wiped from bearish positions. QCP Capital said the broader setup remains fragile because the Hormuz reopening is conditional and Friday's talks still need tangible progress.