Bitcoin Drops to $76,000 After Iran Reverses Hormuz Reopening
A notable short squeeze occurred in 2026, with bitcoin surging to $78,000 on Friday, triggering $762 million in liquidations across 168,336 traders, $593 million of which were short positions, according to CoinGlass. By Saturday evening, bitcoin had retreated to $76,091, up only 0.8% for the day, after Iran announced the reclosure of the Strait of Hormuz to maritime traffic, less than 24 hours af…
April 18, 2026, 5:04 a.m.