Bitcoin (CRYPTO: BTC) surged past $73,000 on Tuesday as $320 million in short positions were liquidated across exchanges, according to CoinGlass data.
The squeeze caught late sellers off guard after U.S. and Israeli strikes on Iran killed Supreme Leader Ali Khamenei on Feb. 28 and sent oil spiking.
Arthur Hayes’ Bull Case
Hayes laid out his thesis in a March 1 essay titled “iOS Warfare.”
Every major U.S. military engagement in the Middle East since 1985 was followed by Fed rate cuts or monetary expansion, he argued.
His conclusion: prolonged Iranian nation-building equals more printing, which equals higher BTC.
Polymarket’s ceasefire contract, with $11.1 million in volume, prices a U.S.-Iran ceasefire by May 31 at 66% and by June 30 at 70%. The longer the conflict drags on without resolution, the more Hayes’ thesis could gain traction.
The $70,000 Battle Zone
Crypto analyst Benjamin Cowen projects a potential March target around …