Bitcoin News
By Bruce Buterin
1 / 15
Short Squeeze Adds Fuel. The derivatives market amplified the move. CoinGlass data showed $356.
2 / 15
Geopolitical Tensions Still Simmer. The Strait of Hormuz remains a flashpoint. Iran's not backing down, and the US initiative might…
3 / 15
Bitcoin punched through $80,000 Monday. The move came right after former President Donald Trump dropped news about "Project Freedom" on Truth Social.
4 / 15
Trump's post talked about helping ships stuck because of the Strait of Hormuz closure. The waterway's been effectively blocked amid escalating tensions between the US, Israel,…
5 / 15
The Strait of Hormuz situation had been weighing on risk appetite for weeks. Ships stranded, energy prices jumpy, global trade routes in chaos.
6 / 15
The derivatives market amplified the move. CoinGlass data showed $356.55 million in total crypto liquidations over the past 24 hours. Of that, $170.
7 / 15
Short squeezes work like dominoes. One liquidation triggers another. Price goes up, more shorts get liquidated, price goes up more.
8 / 15
Spot bitcoin exchange-traded funds in the US kept pulling in money. Fifth week in a row. Last week alone saw $153.87 million in inflows, per SoSoValue data.
9 / 15
Bitcoin was trading at $79,865 at last check. Still near the highs.
10 / 15
Related: BTC Faces May Peak Warning as Analyst Eyes $33K Drop From $78K
11 / 15
Trump's plan involves significant military resources. Guided-missile destroyers aren't cheap, and deploying over 15,000 service members signals serious intent.
12 / 15
The derivatives data from CoinGlass shows how fast sentiment can shift. $356.55 million in liquidations is a big number, even for crypto.
13 / 15
Institutional interest through spot ETFs has been steady. Five consecutive weeks of inflows isn't a fluke. It's a trend.
14 / 15
The psychological barrier at $80,000 matters. Round numbers always do in trading. Breaking through it creates momentum, and holding above it builds confidence.
15 / 15
Traders are watching the Hormuz situation closely. Any escalation could reverse the gains quickly. Iran's criticism of Trump's plan as a ceasefire violation adds uncertainty.
The Currency Analytics
Want the full story?