Bitcoin Price Falls Below $76K Despite Trump's Claim Iran Wants "US to Open Hormuz Strait"

Bitcoin price has fallen below $76,000 after failing to hold momentum near the $80,000 level, as traders remained cautious amid geopolitical tension, thin liquidity, and tighter macroeconomic conditions. The decline came despite Donald Trump claiming that Iran wants the United States to “open the Hormuz Strait” as it faces what he described as a “state of collapse”.

Trump said Iran had informed the United States that it wanted the Strait of Hormuz reopened as soon as possible while dealing with a leadership situation. The statement drew market attention because the waterway is a key route for global oil shipments, and disruption there has added pressure across risk assets, energy markets, and investor sentiment.

Bitcoin was trading in negative territory, extending losses after resistance around $80,000 limited further upside. The asset had already been moving in a tight range as investors waited for the next Federal Open Market Committee meeting, with interest rate expectations remaining a central driver for crypto and equity markets.

Hormuz Tension Keeps Traders Cautious

Market pressure increased as concerns grew over Iran’s oil storage capacity and the possible need for production cuts. A prolonged closure or disruption in the Strait of Hormuz could raise energy costs, especially for Asian economies that rely heavily on crude flows through the region.

A peace proposal from Iran has reportedly offered to reopen the strait and end the conflict, but talks remain difficult because the proposal delays discussion on Iran’s nuclear program and missile activity. The Trump administration has maintained that any agreement must block Iran from obtaining a nuclear weapon.

The uncertainty has kept traders away from aggressive risk-taking. Bitcoin often trades as a high-risk asset during periods of global stress, and geopolitical concerns can increase short-term selling when liquidity is weak.

Leverage Liquidations Add Pressure on Bitcoin

Bitcoin’s drop was also linked to forced liquidations in leveraged positions. After the price moved from around $78,000 to below $77,000, more than $100 million in long positions were wiped out within a short period.

Source: CryptoQuant

Weekend trading conditions added to the move. With fewer institutions and liquidity providers active, order books became thinner, making Bitcoin more sensitive to large market orders. When prices broke key margin levels, automated liquidations created forced selling and extended the decline.

Open interest has also rebuilt to around $25 billion, showing that leverage has returned to the market. Higher leverage can support sharp upward moves, but it also increases the risk of sudden pullbacks when traders are crowded on one side of the market.

Bitcoin Price Cannot Hit $250k in 2026, Peter Brandt

Amid the Bitcoin price attempt to recover above $80,000, veteran trader Peter Brandt has pushed back against forecasts that Bitcoin could reach $250,000 by the end of 2026. He said the current chart structure shows Bitcoin trading inside an ascending parallel channel, rather than forming a strong bullish bottoming pattern.

Source: X

Brandt said a stronger rally would require Bitcoin to break above the upper boundary of the channel with volume. At the time of his comments, Bitcoin was trading between $76,000 and $78,000, still below its October 2025 all-time high of $126,100.

His longer-term outlook remains more constructive, with a potential cycle peak projected for late 2029. However, he has said Bitcoin may need another investable low later in 2026 and may not reach a new record high until 2027.