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🐳 Daily Edition: Temporary Ceasefire Sends Short Sellers Running

Trump's announcement of a 2-week ceasefire via Truth Social has returned some life to the market, although the pause is likely temporary

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Beluga & Will McKinnon
April 08, 2026

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After five weeks of war and panic, we’ve finally reached a reprieve as Trump announced a two-week ceasefire just 90 minutes before his deadline to begin destroying Iranian power plants. This world-shifting announcement came via Truth Social, because of course it did.

Markets reacted just as you’d expect, with oil erasing weeks of war premium in a matter of hours. The Brent spot price is now down 40% from last week’s high of $141, and BTC ripped from $68k to almost $73k. While this is undoubtedly good news, it’s important to keep in mind that as of right now, this is just a two-week pause; if the two sides aren’t able to make peace in the next 14 days, the expectation is for the fighting to continue.

The ceasefire terms allow for safe passage through the Strait of Hormuz which is a major unlock given how dire the oil situation was getting around the world. If the reopening is reversed in 2 weeks, however, we’re right back where we started.

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Disclaimer

The content on this site is for informational purposes only and should not be construed as investment advice. While Beluga strives to ensure the accuracy and timeliness of information, there may be discrepancies when comparing our data to that of financial institutions, service providers, or specific product websites. Always consult with a professional before making any financial decisions. Will McKinnon is the Head of Content for Beluga and has spent every day for many years trading coins. For that reason there are too many to name, however his largest holdings by a significant margin are Ethereum and Bitcoin. NFA DYOR