The neighboring exchange today afternoon $BTC pinned the price to 76,504. At this level, there were trades worth $120 million. Orders with a capital size like this are definitely from institutions. As for my outlook on the upcoming market, I still don’t change my view: the market will go back to fill the Bitcoin CME futures gap in the 79,600–81,000 range. Then, currently, BTC has been hit back both times after attempting to break the 80,000 level. If it comes for a third time, it will most likely break through.

Then, from the news front, U.S. President Trump said: “We have fully controlled the Strait of Hormuz. Without approval from the U.S. Navy, any vessel cannot enter or exit. Until an agreement is reached with Iran, the strait will be ‘strictly sealed off.’”

After this news came out, BTC fell by $200 as a symbolic move, showing that the market has started to become immune to these kinds of headlines. Referring to the earlier Russia-Ukraine war, at the beginning, the market also saw a sharp drop. Later on, as the war kept dragging on, its impact on the market essentially disappeared. The longer the U.S. and Iran conflict drags on, the smaller the impact it has on the market. In the end, the market will grow numb to these news developments.