Bitcoin price rose More than $77,000 this morning after Iran declared the Strait of Hormuz fully open under a new ceasefire framework, and President Donald Trump amplified the message with a post that highlighted full passage through the waterway. The move sharpened the current risk-on rotation across global markets and pushed the largest cryptocurrency back towards the resistance range that has capped every rally since early February.
Iranian Foreign Minister Abbas Araghchi He said The Strait of Hormuz is open to all commercial ships for the remainder of the ceasefire, and the decision directly linked to a ten-day truce between Israel and Hezbollah in Lebanon.
The announcement positioned the reopening as part of a broader effort to align maritime security with de-escalation along the Lebanese front, where skirmishes threatened to derail parallel talks on the broader conflict with Tehran.
Trump took advantage of the development send “The Iran Strait is fully open and ready for full passage. Thank you!” The message was repeated again after Araghchi’s statement was circulated. The White House expected a potential settlement with Iran within days, with Trump saying talks could take place this weekend and hinting at a meeting between Israeli and Lebanese officials in Washington within two weeks.
For energy and macro traders, a Completely open Hormuz It removes the worst-case scenario that has hung over crude oil and shipping since early March. Oil prices fell as war and blockade bonuses faded, and that decline led directly into cryptocurrencies and stocks, as investors treated every sign of progress on Iran’s path as a green light to add risks.
Bitcoin price is pressing resistance as short trades increase
Against this backdrop, the Bitcoin price has returned to the $76,000-$78,000 range that represented the last major peak before the decline in February to a Bitcoin price of $60,000. Each push into that zone was met with intense selling, with a visible wall of offers located just above the market and a set of liquidation levels for highly leveraged buy and sell trades just a few hundred dollars away.
Derivatives data displays That perpetual funding has turned negative across major venues is a sign that traders are pushing to hold short positions at current levels. This structure signals a market position for further upside even as the spot price rises, and sets the stage for a writing squeeze if the Hormuz catalyst and broader ceasefire narrative continues to attract new demand from both retail buyers and senior balance sheets.
Volatility has already risen around this range. Intraday highs to $76,000 triggered waves of liquidations and rapid reversals as shorts scramble for cover and the power of opportunistic sellers fades, according to Bitcoin Pro Magazine.
Fear, flows, and the path to $80,000
Emotions did not heal in conjunction with the price. Surveys and installed measuring devices Still sitting In light of the “extreme fear”, embodied in the February withdrawal, widespread profit-taking as a result of previous bounces, and fears that the macro backdrop remains fragile even as oil prices rise from their highs. On-chain metrics show that many active Bitcoin holders are sitting near or below their cost basis, a pattern that turns every move into resistance as marginal sellers use power to reduce risk.
Streams add to that picture. Offshore exchanges and structured buyout programs have done much of the recent rally, while deep US venues and larger institutional distributors remain cautious.
Public miners, which unloaded large inventories of coins during the first quarter, continue to feed a steady stream of supply into the rallies as they fund operations and expansion.
This combination leaves Bitcoin’s price at an inflection point that is shaped as much by Hormuz addresses as by funding and money flow curves. If the strait remains open, the ceasefire in Lebanon holds, and Trump’s push for a broader agreement with Iran leads to concrete steps, the current supply under risky assets could lead to a clear break above $77,000 and force shorts to capitulate.
If talks stall, violations escalate or oil rebounds, the same crowded positions could flip and pull the price back toward the low $70,000 range, where profit-taking and miners face a weak supply.
At the time of writing, the price of Bitcoin has fallen to approximately $76,000.
