Bitcoin Drops to $76,000 Following Iran's Reversal on Hormuz Strait
A major short squeeze took place in 2026, culminating in a single session. Bitcoin surged to $78,000 late on Friday, triggering liquidations worth $762 million across 168,336 traders, with $593 million of that amount attributed to short positions, according to CoinGlass. By Saturday evening, bitcoin had retreated to $76,091, representing a mere 0.8% increase for the day, after Iran declared that …
April 18, 2026, 5:04 a.m.