Bitcoin has fallen back by more than 2 per cent as a result of the resumption of the Iranian blockade in the Strait of Hormuz, at a current price of close to $62,000. Trump announced that the United States would charge 20 per cent of the cost of cargo to ships in the waterway and undertook to protect commercial shipping. As tensions between the United States and Iran have increased, the market ' s expectations for the resumption of shipping have decreased significantly, and the forecast market shows that only 16 per cent of shipping in the Strait of Hormuz is likely to return to normal.
Bitcoin price fluctuations
Bitcoin made a breakthrough of $64,000 at the beginning of the week, but has now fallen to about $62.24 million, a decline of almost 3 per cent in the past 24 hours. Technical analysis shows that Bitcoin failed to maintain the fall above the US$63,200 Fibonacci retreat and broke the 50-day simple moving average line. Nevertheless, the Chaikin resource flow indicator remained slightly positive, indicating that the inflow had not yet been reversed.
The market's pessimism about the recovery of shipping
According to the encrypted prediction platform Polymarket, market expectations for a return to normal shipping in the Strait of Hormuz have been significantly reduced, from 48 per cent at the beginning of this month to 16 per cent. As geopolitical tensions increased, investor interest in venture assets such as bitcoin continued to rise.