ME News report, April 18 (UTC+8). Due to the repeated volatility stemming from the Middle East situation, Bitcoin’s price has pulled back to about $76,000. Earlier, Iran had at one point announced the opening of the Strait of Hormuz, which boosted risk assets and triggered a large-scale short squeeze, but it then shut/closed the channel again. Market sentiment reversed quickly. Data shows that this round of market action triggered one of the largest liquidation events since 2026: approximately 168,336 traders were liquidated, with a total amount of $762 million, of which liquidated short positions accounted for about $593 million, nearly three-quarters. During the upward phase, crude oil prices once fell by nearly 10%, pushing Bitcoin through the key resistance zone from $76,000 to $78,000; however, as the Strait of Hormuz returned to military control, multiple oil tankers turned back, safe-haven sentiment picked up, and the price subsequently retreated. Structurally, this rally was driven by sustained long-term negative funding rates, with shorts continuously paying longs and accumulating squeeze conditions. Despite the short-term pullback, Bitcoin’s weekly chart still holds an increase of about 4.5%, while major assets such as Ethereum have been relatively more stable. At present, the market’s focus has shifted to the $76,000 key support level: if the weekly close is above this level, it may sustain the breakout structure; if it breaks below, the price could return to the range-bound consolidation area seen since March. (Source: PANews)

BTC-0.03%

ETH0.33%

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VolcanicMonolith

· 1h ago

The weekly chart is still in the green, don't panic

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TreatMemesAsBeliefs

· 18h ago

168k people liquidated, and whose wallet is crying now

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WalletPermissionAdministrator

· 05-28 17:39

762 million liquidation, the nightmare of leverage players

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RiskParityKid

· 05-28 17:35

Iran's move, a classic move in the playbook.

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GateUser-665eb149

· 05-28 17:34

Geopolitical risks are truly an eternal variable in the crypto world.

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NeonHalf-MeltedIceCream

· 05-28 17:31

Keep pushing if the support is effective

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Analysis: Bitcoin has fallen back to $76k due to the ongoing Middle East tensions, and the reopening of the Strait of Hormuz has triggered market volatility.

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