06.04.2026 04:42
The volatile scene in the Persian Gulf rattled investors worldwide, sending the U.S. President’s assertions and regional tensions directly into the hands of cryptocurrency traders. Trump’s contradictory remarks about a potential deal with Iran to keep the Strait of Hormuz open lifted the broad crypto market by 2.5 %, propelling the total market capitalisation up by $70 billion. Consequently the exchange‑traded universe was nudged to a fresh 11‑day peak of $2.44 trillion, while the flagship digital asset surged to $69,500 on Coinbase’s platform.
Within the previous 24 hours alone, liquidated positions amounting to $255 million were executed, with a staggering 73 % of those stemming from short stances. Trump’s incendiary post on Truth Social, in which he warned that failure to reopen the strait by Tuesday would trigger strikes on Iran’s infrastructure, added fuel to the fire. Yet the same day he appeared on Fox News and noted that negotiations were underway, hinting at a possible accord within a day. Axios reported that U.S., Iranian, and regional diplomats were negotiating a 45‑day ceasefire framework.
The month‑long conflict and blockage of the Strait of Hormuz catapulted benchmark oil prices to $112 a barrel, amplifying inflationary pressure. American consumers are now shelling out an additional $240 million each day for gasoline alone. Amid this geopolitical siege, Bitcoin emerged as a safe‑haven asset, breaking a prior sideways trend and gaining a cushion of $2.7 % in value.
**Technical snapshot:**
- **Current price:** $68,973.10 (+2.70 % 24‑h)
- **RSI:** 51.19 (neutral)
- **Trend:** Sideways, with a bearish Supertrend indication
- **Critical support levels:**
- S1 at $68,944.59 (strong, -0.25 % distance)
- S2 at $67,294 (medium)
- **Key resistance points:**
- R1 at $69,205 (strong, +0.13 % distance)
- R2 at $83,437 (strong, +20.72 % distance)
- **EMA 20:** $68,491
A slide below R1 could unleash a surge in futures volume, while a break above S1 might signal renewed bullish momentum. The convergence of Trump’s mixed messaging, heightened oil prices, and the subsequent risk‑off shift in traditional markets ultimately provided the catalyst that pushed Bitcoin higher.
