Traders poured $3 billion into Binance after Bitcoin hit $72,734 on ceasefire headlines – what are they betting on?

Bitcoin climbed back above $70,000 on Wednesday after news that the United States and Iran had agreed to a Pakistan-brokered two-week ceasefire tied to reopening the Strait of Hormuz. According to CryptoSlate’s data, the top crypto rose 5% to a peak of $72,734 before retracing to $71,477 as of press time. Why this matters Bitcoin did not jump in isolation. The ceasefire headline hit oil, inflation expectations, equit…