Bitcoin liquidates about 151.2 billion won in futures market on Middle East ceasefire news

On the 24th, at the point of BTC rising from $104,500 to $106,000, a large-scale short betting liquidation occurred... A single wallet was liquidated for 480 million won

On the 24th, approximately $111 million (about 15.12 billion won) of short betting positions were liquidated in the futures market within a few hours due to Bitcoin's (BTC) surge following the Middle East war ceasefire announcement.

The on-chain analysis platform LookOnChain announced that when Bitcoin rose from $104,500 to $106,000 on the morning of the 24th, a massive short betting position was instantly liquidated.

Particularly, according to the liquidation data, about $3.51 million (approximately 480 million won) of short betting funds were liquidated from a single wallet due to Bitcoin's sharp rise on the 24th.

On the morning of the 24th, President Trump announced the ceasefire between Iran and Israel through his social media platform 'Truth Social'. Foreign media from Qatar also reported that "Iran has accepted the US ceasefire proposal".

However, Iran's position is different. Abbas Araghchi, Iran's Foreign Minister, posted on his X account, "If Israel stops its 'illegal invasion' of Iran by 4 AM Tehran time at the latest, we will have no intention to continue our response afterwards."

He added, "At present, there is no 'agreement' on a ceasefire or military operation suspension" and "The final decision on stopping our military operations will be made later".

Reporter Seung-won Kwon ksw@blockstreet.co.kr