PANews April 18 news, according to CoinDesk, influenced by the fluctuating situation in the Middle East, the price of Bitcoin has fallen back to approximately $76,000. Previously, Iran had announced the reopening of the Strait of Hormuz, triggering an increase in risk assets and prompting a massive short squeeze, but then subsequently closed the waterway again, leading to a rapid reversal in market sentiment.

Data shows that this round of market activity triggered one of the largest liquidation events since 2026, with approximately 168,336 traders being forcibly liquidated, totaling $762 million, of which the short squeeze amounted to about $593 million, accounting for nearly three-quarters. During the upward phase, crude oil prices fell by nearly 10%, facilitating Bitcoin's breakthrough of key resistance at the $76,000 to $78,000 range; but as military control was reinstated over the Strait of Hormuz, several oil tankers turned around, risk aversion increased, and prices subsequently fell back.

Structurally, this increase was driven by a long-term negative funding rate, with shorts continuously paying costs to longs, accumulating conditions for a squeeze. Despite a short-term correction, Bitcoin's weekly chart still maintains an increase of about 4.5%, with mainstream assets like Ethereum performing relatively more stable. Currently, market focus has shifted to the key support level of $76,000; if the weekly close is above this level, it may maintain a breakout structure; if it falls below, the price may return to the range of fluctuations seen since March.

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