Bitcoin and U.S. stock futures surged as oil prices dropped following a two-week ceasefire between Iran and the U.K. President Donald Trump announced the suspension of a planned bombing campaign against Iran. Bitcoin, the leading cryptocurrency by market value, rose to a high of $72,699, up 5% in 24 hours. The broader market saw the CoinDesk 20 Index jump 5% to 2,034 points. Meanwhile, the per-barrel price of West Texas Intermediate (WTI) crude dropped more than 10% to $95 and Brent oil. The ceasefire was confirmed by Iran, which stated that if attacks against Iran were halted, their armed forces would cease their defensive operations. The rise in prices has led exchanges to liquidate nearly $600 million in leveraged crypto futures positions, with over $400 million coming from short bets.