Today's Bitcoin trend can be described as a "roller coaster"—intraday surged to 80,594 at one point, and market sentiment was fueled by optimistic expectations of "breaking 80,000 and restarting the bull market." However, after Iran announced that a missile hit a U.S. warship near the Strait of Hormuz, market sentiment instantly reversed, and Bitcoin rapidly plummeted, dropping from above 80,000 down to a low of 78,128, a nearly 2,000-point decline in a single direction, directly breaking the previous bullish momentum.

This decline was not merely a technical correction but triggered by risk-averse sentiment caused by geopolitical risk events. The Strait of Hormuz is a critical global oil transportation route; the incident directly pushed up crude oil prices and pressured the U.S. dollar index, causing market risk appetite to quickly cool down. Short-term funds panicked and sold off to lock in profits, compounded by the fact that the 80,000 level itself had a large amount of trapped positions and take-profit orders, amplifying the downward movement.

In the short term, the market will enter a fluctuation zone between 78,000 and 80,000, with resistance concentrated around 79,500–80,000. This area is not only a previous breakout level but also a psychological threshold, with selling pressure relatively high. Strong support remains at 78,000; if this level is broken, a deeper correction could begin.

Trading suggestions:
Currently, it is not advisable to aggressively short or blindly buy the dip. Wait for two clear signals: one is the follow-up development of the geopolitical event, and the second is that Bitcoin's price stabilizes above 79,000, confirming a stabilization before lightly entering long positions. Strict position control and stop-loss around 78,000 are necessary to avoid being repeatedly caught in the fluctuation market.