ALERT: $BTC has now fully retraced every “Strait of Hormuz reopening” headline-driven rally four times this month.
. April 8–13
A two-week ceasefire and reported reopening agreement initially boosted sentiment. However, Trump later ordered a naval blockade, and talks in Islamabad collapsed.
Price moved from $72,750 down to $70,600 (-$2,150)
. April 17
Iran’s foreign minister stated the strait was “fully open,” but the claim was later walked back amid demands for the US to lift its port restrictions.
Price dropped from $78,300 to $74,300 (-$4,000)
. April 21–22
Trump announced an indefinite ceasefire extension, but reports suggested Iran had no intention of entering negotiations.
Price fell from $79,000 to $77,500 (-$1,500)
. April 27
Reports emerged that Iran may have submitted a new proposal to the US regarding reopening the strait, though unconfirmed.
$BTC spiked to $79K on the headline, then slipped back to $77.6K as no new catalyst followed.
Bitcoin is now pulling back each time on headline-driven moves without sustained momentum.