Bitcoin fell 1.23% over 24 hours to $75,500. The decline followed a broader risk-off reaction after Iran closed the Strait of Hormuz on April 19, which increased concern about wider conflict and pushed traders away from higher-risk assets.
The wider crypto market also moved lower during the session. Total crypto market capitalization dropped 1.58% as traders reduced exposure across digital assets. At the same time, held above the recent swing low of $74,930.
Near-term price levels remained in focus during the decline. On the upside, $76,500 and $78,000 remained the next level to watch. On the downside, a break below $74,930 would shift attention to the next support area near $73,500.