The cryptocurrency market experienced sharp swings over the weekend, largely driven by geopolitical developments surrounding the Strait of Hormuz. On Friday, April 17, Bitcoin (BTC) surged to an intraday high of approximately $78,320, its strongest level since February, closing at $77,126. This rally was fueled by Iran’s announcement that the Strait of Hormuz — a critical chokepoint for ~20% of global oil shipments — was fully open to commercial shipping during a Lebanon ceasefire. The positive sentiment triggered a relief rally: oil prices dropped sharply (nearly 10% intraday to around $85-86/bbl), boosting risk ... (full story)