Bitcoin Price Drops to $76,000 Following Iran's Reversal on Hormuz Strait
A major short squeeze took place in 2026, with bitcoin reaching $78,000 on Friday, triggering $762 million in liquidations across 168,336 traders, $593 million of which were short positions, according to CoinGlass. However, by Saturday evening, bitcoin had fallen back to $76,091, representing a daily increase of only 0.8%, as Iran announced the reclosure of the Strait of Hormuz to maritime traffi…
April 18, 2026, 5:04 a.m.