Bitcoin falls back to $76,000 as Iran shuts Hormuz again

What Happened

Bitcoin surged to $78,000 Friday, liquidating $762 million across traders before retreating to $76,091 Saturday as Iran unexpectedly closed the Strait of Hormuz to maritime traffic again. The short squeeze triggered $381 million in bitcoin liquidations, the largest share of total losses, as geopolitical tensions over shipping routes rattled cryptocurrency and oil markets.

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