Bitcoin in wartime – How 6 days turned the tide for BTC bears

Since early February geopolitical headlines (U.S.-Iran tensions, strikes and Strait of Hormuz disruptions) and the Feb. 25 State of the Union drove volatile flows, Bitcoin unexpectedly rallied rather than crashed. Six days since late February saw short-liquidations exceed $400M, fueling repeated short squeezes that pushed BTC from ~$60k in early Feb to intraday highs near $79.4k by April 22. Large spot ETF inflows (notably $461M on March 4) and institutional buying amid negative funding rates amplified rallies. Despite intermittent pullbacks — including a 7.9% drop after March strikes and falls from $76k to $69k on Iran-related headlines — market structure has tilted toward bulls, with analysts flagging a potential extension to an $83k–$89k “golden pocket” before any larger reversal. The piece highlights headline-driven liquidity events and suspicious pre-news trading patterns as key drivers of recent BTC price action and risk.