Bitcoin surged to $78,000 after Iran announced the Strait of Hormuz was fully open.

The market is currently calm with $BTC at $63,000, $ETH at $3,100, and $BNB at $560, all up 0% in the last 24 hours.

Iran's statement eased geopolitical tensions, causing a significant price jump. The Strait of Hormuz is a critical oil shipping route, and its closure could impact global oil supplies. Bitcoin's 6.7% surge to $78,000 indicates a strong reaction to the news.

The short-term price impact is bullish, with $BTC potentially testing $80,000. Altcoins like $ETH and $BNB may also see gains, but sustainability is key.

My take is cautiously bullish; the market needs to absorb this news and show conviction.

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