Key Takeaways:<\/strong><\/p>\n The move played out quickly. Within hours of the blockade announcement<\/a>, millions in short positions were liquidated as buyers stepped in at support near $70,000, accelerating the climb. Funding rates had turned negative in the days prior, a signal that short positioning had grown crowded heading into the weekend.<\/p>\n Trump ordered the Strait of Hormuz <\/a>closure after ceasefire talks<\/a> between the U.S. and Iran collapsed over the weekend. The Strait is a critical passage for global oil shipments. The news initially pressured risk assets before traders shifted toward bitcoin<\/span> and other hedges.<\/p>\n The price action tested the upper boundary of bitcoin<\/a>\u2018s two-month consolidation range, which has held roughly between $65,000 and $75,000 since February. The range represents a period of choppy trading that followed bitcoin<\/span>\u2019s all-time high above $126,000 in October 2025.<\/p>\n Spot bitcoin<\/span> exchange-traded funds (ETFs) have also seen renewed inflows during March and April, providing some demand beneath the leverage-driven moves. Institutional buying through ETF vehicles has been, at least one reason, support near $68,000 to $70,000 has held across multiple retests.<\/p>\n Broader macro conditions have complicated bitcoin<\/span>\u2019s path higher. Rising oil prices<\/a> tied to Middle East tensions have reinforced inflation<\/span> concerns, which could push back Federal Reserve rate cuts. Any easing of geopolitical pressure or shift in Fed expectations has tended to lift BTC<\/span> within days.<\/p>\n Earlier in April, bitcoin<\/span> posted a gain near $70,000 on reports of a potential U.S.-Iran ceasefire before the weekend breakdown reversed that momentum. Traders have been reacting sharply to each development in the conflict, with BTC<\/span> moving several percentage points within hours of major headlines.<\/p>\n April has historically<\/a> been a positive month for bitcoin<\/span>. Since 2013, bitcoin<\/span> has closed April higher roughly 69% of the time. The 2026 edition has been inconsistent, weighed down by persistent macro headwinds and the aftereffects of last year\u2019s price decline. So far in Q2 2026, bitcoin<\/span> is up by 8.64%.<\/p>\n The $75,000 level carries technical significance. Heavy short interest has been stacked near $73,000 to $75,000, making any sustained move above that zone a potential catalyst for additional squeezes. Several trading desks have cited $75,000 as a resistance level that, if cleared on strong volume<\/span>, could open a path toward $80,000. Prediction markets<\/span> have seen this track<\/a> as well.<\/p>\n Downside risks remain in place. A failure to hold above $72,000 to $73,000 could pull prices back toward $68,000. Tax-season selling ahead of the April 15 deadline may also reduce spot demand in the short term. A broader equity selloff driven by geopolitical shock remains a risk that traders are watching.<\/p>\n Strategy, the largest corporate bitcoin<\/span> holder, has continued adding BTC<\/span> to its treasury this year. The company loaded up<\/a> on 13,927 bitcoin<\/span> this week and now holds 780,897 BTC<\/span>. That type of institutional accumulation, alongside ETF inflows and legislative discussions around the CLARITY Act<\/a> for clearer crypto<\/a> rules, forms part of the structural case that longer-term holders cite.<\/p>\n Bitcoin staged a market-defying recovery on Monday, April 13, rising to an intraday high of $72,629 shortly after reclaiming the\u2026<\/p>\n<\/div>\n <\/a><\/p>\n Bitcoin staged a market-defying recovery on Monday, April 13, rising to an intraday high of $72,629 shortly after reclaiming the\u2026<\/p>\n<\/div>\n <\/a><\/p>\n Bitcoin staged a market-defying recovery on Monday, April 13, rising to an intraday high of $72,629 shortly after reclaiming the\u2026<\/p>\n<\/div>\n <\/a><\/div>\n At current prices at 7:30 p.m. ET, bitcoin<\/a> sits roughly 40% below its 2025 peak at $74,766 per unit. Analyst targets for year-end 2026 range from a conservative base near $75,000 to more optimistic projections above $100,000 if inflation<\/a> cools and the macro backdrop improves.<\/p>\n Traders are watching the $70,000 support level overnight and the $75,000 resistance band as the most immediate signposts for where bitcoin<\/a> heads next.<\/p>\n<\/div>\n\n
Bitcoins BTC<\/span> Tests 2-Month Consolidation High Near $75,000<\/h2>\n
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Bitcoins Tax Season Selling Could Dampen Things<\/h2>\n
Bitcoin Shrugs off Strait of Hormuz Blockade to Hit $72,629 Intraday High<\/h3>\n
Bitcoin Shrugs off Strait of Hormuz Blockade to Hit $72,629 Intraday High<\/h3>\n<\/div>\n