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$BTC Bitcoin falls back to $76,000 as Iran shuts Hormuz again

One of the biggest short liquidations 2026 wiped $593 million in bearish bets overnight. Saturday afternoon as Iran reportedly reversed the Hormuz reopening.

What to know:
°$BTC Bitcoin surged above $78,000 in a sharp short squeeze after Iran declared the Strait of Hormuz fully open and Donald Trump claimed Tehran agreed to an unlimited suspension of its nuclear program.

°The rally triggered about $762 million in crypto liquidations, mostly from short positions, with bitcoin accounting for roughly $382 million and ether $167 million, as funding rates had been negative for weeks.

°Traders are watching the $76,000 to $78,000 zone as a key resistance area whose sustained break could clear a path toward bitcoin’s $94,000 yearly open and $126,000 record high, while other major tokens also logged solid weekly gains.

$BTC Bitcoin climbed to $78,000 late Friday, triggering $762 million in liquidations across 168,336 traders with $593 million of that on the short side.



Ether held up better than bitcoin on the retreat, down just 0.2% over 24 hours while #solana dropped 1.3% and dogecoin fell 2.1%. On a weekly basis, ether is still up 5.2%, #XRP leads at 6.4%, #BNB added 4.6%, and bitcoin sits at 4.5%.
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