Bitcoin experienced significant fluctuations due to reports related to the Strait of Hormuz, triggering $762M million dollars in forced liquidations. **Summary:** Bitcoin rose to $78,000, but then fell to $76,091 following reports about heightened tensions in the Strait of Hormuz. Iran’s actions sparked $762 million dollars in forced liquidations among traders, which then impacted the crypto market: as Iran accepts payments in Bitcoin and other currencies to respond to sanctions. According to Gate News, April 18—April 17: Bitcoin briefly surged to $78,000, then fell to $76,091 during the Asian session on April 18. The crypto market reacted to conflicting reports about the Strait of Hormuz. Data firm CoinGlass said the volatility led to $762 million dollars in forced liquidations, covering 168,336 traders, including $593 million dollars from short positions: $381 million dollars in Bitcoin short positions and $167 million dollars in Ethereum short positions.

The price fluctuations were driven by reports that Iran had closed the waterway. Two tanker owners received wireless radio warnings from Iran stating that the strait had been sealed off; one supertanker reported gunfire and turned back. Nour, an Iranian news agency, said that after what it described as the U.S. blockade of Iranian shipping, the strait had resumed control under the armed forces. The Islamic Revolutionary Guard Corps (IRGC) is a powerful military organization separate from Iran’s regular armed forces. It reportedly controls the passage and has reportedly charged ship operators using the route up to $2 million dollars per vessel.

Geopolitical tensions are bringing crypto-level effects: reports indicate that Iran has accepted payments in Bitcoin, Tether (USDT), and China’s yuan to ensure safe passage. Iran accounts for about 4.5% of global Bitcoin mining, and this approach may help Tehran obtain hard currency while evading U.S. sanctions. The liquidation chain reflects how leveraged derivatives traders crowded into short positions before the crisis erupted; when prices rebounded slightly, forced buying to close positions accelerated this rebound. #GatePreIPOs首发SpaceX