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Bitcoin consolidates as Iran closes Strait of Hormuz
Bitcoin is trading at $74,698.01, down 0.92% over the last session. The asset is positioned above its short- and medium-term moving averages, indicating ongoing upward momentum over these horizons. Iran has closed the Strait of Hormuz within the last 24 hours, causing a direct shock to global markets and prompting a sharp drop in Bitcoin’s USD price from above $78,000 to below $76,000. Renewed US-Iran tensions have escalated following the US military’s seizure of an Iranian cargo ship and public accusations from President Donald Trump that Iran has breached the ceasefire with hostile actions in the shipping ... (full story)
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