{"id":96275,"date":"2026-04-17T18:10:24","date_gmt":"2026-04-17T15:10:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=96275"},"modified":"2026-04-17T18:16:35","modified_gmt":"2026-04-17T15:16:35","slug":"bitcoin-breaks-through-78000-as-the-strait-of-hormuz-reopens","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-breaks-through-78000-as-the-strait-of-hormuz-reopens\/","title":{"rendered":"Bitcoin breaks through $78,000 as the Strait of Hormuz reopens"},"content":{"rendered":"<p>Bitcoin climbed to $78,000 for the first time since early February after Iran\u2019s foreign minister, Abbas Araghchi, said the Strait of Hormuz had reopened.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran.<\/p>\n<p>\u2014 Seyed Abbas Araghchi (@araghchi) <a href=\"https:\/\/twitter.com\/araghchi\/status\/2045121573124759713?ref_src=twsrc%5Etfw\">April 17, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the time of writing, bitcoin trades around $77,900, up 5% over the past 24 hours.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-c3897066d427c3bc-2039678830217370.webp\" alt=\"image\" class=\"wp-image-278611\"\/><figcaption class=\"wp-element-caption\">Hourly chart of BTC\/USDT on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/atJ4mYHE\/?symbol=BINANCE%3ABTCUSDT\">TradingView<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Earlier, Glassnode <a href=\"https:\/\/forklog.com\/en\/news\/historical-gauges-point-to-a-bitcoin-bottom\">noted<\/a> that confirming a bull trend would require a break above $78,000 \u2014 the level of the realised market price.<\/p>\n<p>The broader market followed. Ethereum jumped 6% to $2,400. <a href=\"https:\/\/forklog.com\/en\/news\/what-are-ripple-and-the-cryptocurrency-xrp\">XRP<\/a> added 6.3%, <a href=\"https:\/\/forklog.com\/en\/news\/what-is-solana-sol\">Solana<\/a> \u2014 6.5%.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-cd291b53be1369ed-2039699993038464.webp\" alt=\"image\" class=\"wp-image-278612\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/coinmarketcap.com\/\">CoinMarketCap<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Amid the rally, liquidations nearly reached $200m in an hour, with $171m of that from shorts. The daily tally hit $728m.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-397b7ce3fc267026-2039717095273057.webp\" alt=\"image\" class=\"wp-image-278613\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.coinglass.com\/liquidations\">CoinGlass<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Araghchi wrote that commercial vessels will be able to transit the strait for the duration of the ceasefire between Israel and Lebanon. The ten-day truce was <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116415122630904602\">reached<\/a> the day before, on April 16.<\/p>\n<p>US President Donald Trump <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116420275523158052\">confirmed<\/a> the reopening of Hormuz, adding that the US naval blockade of Iranian ports will continue until talks with Tehran conclude.<\/p>\n<p>According to the US leader, the parties have agreed on most of the deal\u2019s points, so the process \u201cshould move very quickly\u201d.<\/p>\n<h2 class=\"wp-block-heading\">Oil and equities react<\/h2>\n<p>The Iranian foreign ministry\u2019s announcement pressured energy prices. Brent fell 10% \u2014 <a href=\"https:\/\/ru.investing.com\/commodities\/brent-oil-historical-data\">to $89<\/a> \u2014 while WTI slid almost 11% \u2014 <a href=\"https:\/\/ru.investing.com\/commodities\/crude-oil\">to $84<\/a>. At the outset of the Middle East conflict and after the closure of the Strait of Hormuz, fuel prices had topped $100.<\/p>\n<p>US stocks cheered the news. The S&amp;P 500 <a href=\"https:\/\/ru.investing.com\/indices\/us-spx-500\">returned<\/a> to record highs and, for the first time since late January, exceeded 7,000 points. The Nasdaq also <a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-NDX\/?timeframe=120M\">broke its ATH<\/a>.<\/p>\n<p>Technology firms led the rally, wrote <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-04-16\/retail-traders-look-past-war-angst-and-race-back-into-stocks?srnd=phx-markets\">Bloomberg<\/a>. Analysts said retail investors have looked past the war with Iran and started snapping up AI and innovation stocks.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cAfter the ceasefire announcement, the focus quickly returned to artificial intelligence and other technology themes, and the stocks popular with retail investors \u2014 especially the most volatile \u2014 started leading the market up from local lows,\u201d said Dave Mazza of Roundhill Investments.<\/em><\/p>\n<\/blockquote>\n<p>Even so, conditions remain \u201cfragile\u201d, analysts reckon. Oil has yet to return to prewar levels and in March posted its biggest monthly gain since 2022. The consequences for the Persian Gulf\u2019s energy infrastructure remain unassessed.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe problems in the Middle East and in the private-credit market have not gone away, so this kind of action is definitely worrisome,\u201d warned Matt Maley of Miller Tabak.<\/em><\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">What it means for crypto<\/h2>\n<p>MN Trading founder Micha\u00ebl van de Poppe expects bitcoin to rise alongside equities, pointing to the Nasdaq, which has risen 12 days in a row.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The Nasdaq is up 12 days in a row.<\/p>\n<p>Only a few occassions we&#8217;ve seen this happening.<\/p>\n<p>What does that mean for <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>?<br \/>Why is <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> not following with the same strength?<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> is definitely broken and lost its premise! <\/p>\n<p>In this post, I&#8217;ll give some statistical data on what I\u2026 <a href=\"https:\/\/t.co\/HRA1NQ21DD\">pic.twitter.com\/HRA1NQ21DD<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/2045108598611550352?ref_src=twsrc%5Etfw\">April 17, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Such episodes \u2014 when the index staged a powerful rally while digital gold was in a relatively mature phase \u2014 occurred only twice: in July 2013 and July 2017. In both cases, bitcoin later followed the Nasdaq:<\/p>\n<ul class=\"wp-block-list\">\n<li>in 2013, the asset\u2019s price rose by 1,000% six months after the index peaked;<\/li>\n<li>in 2017, it jumped by 400%.<\/li>\n<\/ul>\n<p>In previous, milder Nasdaq upswings, bitcoin lagged by two to three weeks before outperforming by four to six times.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cMy base case: we\u2019ll see a rally to $85,000\u201388,000 as a first test, but if the Nasdaq keeps rising, I wouldn\u2019t be surprised if bitcoin aims for all-time highs in the fourth quarter of 2026,\u201d van de Poppe forecast.<\/em><\/p>\n<\/blockquote>\n<p>Other analysts are more circumspect about the market\u2019s next leg. According to the commentator known as Darkfost, conditions remain highly unstable and speculative, with futures reacting sharply to each new headline.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udfe2 More than $2B Buy Volume hits Bitcoin as Strait of Hormuz reopens<\/p>\n<p>This week marks a real turning point, both in terms of geopolitics and macroeconomics.<\/p>\n<p>After Tuesday\u2019s PPI figures came in well below expectations, suggesting that inflation driven by higher energy prices may\u2026 <a href=\"https:\/\/t.co\/ieZj8ihPPO\">pic.twitter.com\/ieZj8ihPPO<\/a><\/p>\n<p>\u2014 Darkfost (@Darkfost_Coc) <a href=\"https:\/\/twitter.com\/Darkfost_Coc\/status\/2045145815870534098?ref_src=twsrc%5Etfw\">April 17, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Within an hour of the announcement, aggressive buy volume in derivatives exceeded $2.1bn, he noted, with more than $1.9bn on Binance alone.<\/p>\n<p>According to Glassnode, options-market positioning remains uncertain.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin is attempting to break above the 74\u201375K zone after two rejections in March.<\/p>\n<p>Here\u2019s what Bitcoin options data reveals about positioning, volatility expectations, and market sentiment beneath the surface. <a href=\"https:\/\/t.co\/bZfeSeh46E\">pic.twitter.com\/bZfeSeh46E<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/2045126351099773176?ref_src=twsrc%5Etfw\">April 17, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On the one hand, traders are actively buying calls, creating a zone that could accelerate gains if $74,000\u201378,000 breaks. On the other, volatility is falling, defensive hedges remain in place and conviction is lacking.<\/p>\n<p>The market cannot decide whether to fade current volatility or prepare for a new move. Positioning is tentative and no one is leading the rally, the specialists concluded.<\/p>\n<p>Nexo <a href=\"https:\/\/www.theblock.co\/post\/397874\/bitcoin-outlook-still-clouded-by-extreme-fear-amid-macro-uncertainty-and-profit-taking-despite-rally-to-76k-analysts-say\">confirmed<\/a> the contradiction: the rally is gathering steam, yet the derivatives market does not buy it. <a href=\"https:\/\/forklog.com\/en\/news\/the-funding-rate-how-it-helps-anticipate-price-reversals-in-bitcoin-and-ethereum\">Funding rates<\/a> remain low, demand elevated and positioning defensive.<\/p>\n<p>On April 17, analysts <a href=\"https:\/\/forklog.com\/en\/news\/analysts-warn-of-short-squeeze-risks-in-cryptocurrency-market\">warned<\/a> of the risk of a short squeeze in the crypto market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin rose to $78,000 after Iran\u2019s foreign minister Abbas Araghchi said the Strait of Hormuz had reopened.<\/p>\n","protected":false},"author":1,"featured_media":96276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Bitcoin tops $78,000 as Iran reopens the Strait of Hormuz; oil slides, stocks rally.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,840,26],"class_list":["post-96275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-iran","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"Bitcoin tops $78,000 as Iran reopens the Strait of Hormuz; oil slides, stocks rally.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/96275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=96275"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/96275\/revisions"}],"predecessor-version":[{"id":96277,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/96275\/revisions\/96277"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/96276"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=96275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=96275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=96275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}