The market reaction also reflected concern about the Strait of Hormuz. Around one-fifth of the world’s seaborne oil moves through the strait, so any prolonged disruption can keep pressure on oil prices and
Recent reports said a few tankers had resumed transit, but traffic remained heavily disrupted, and many vessels were still waiting in the Gulf. U.S. forces also began operations tied to safer navigation in the waterway after weeks of tension.
For Bitcoin, traders are now watching the $71,000 to $71,200 area as nearby support. A hold above that range would keep the broader April rebound in place, though in weaker form. A deeper move lower could shift attention toward the next support zone near $68,000, while a recovery back above the 50-day average would help steady the short-term outlook.