Strait of Hormuz Closed Again: How Is Bitcoin Reacting?

Key Takeaways

• Hormuz closed again today after US kept its naval blockade in place.
• BTC dropped from $77,200 to $76,400 within minutes
• RSI is now at 33.76 – deep oversold territory.
• Volume spike at the drop confirms panic selling, not gradual distribution.
• Weekend US-Iran talks in Islamabad are the next major catalyst to watch.

What Happened and Why

Yesterday, Iran’s Foreign Minister announced the Strait of Hormuz was “completely open” for commercial vessels, in line with the Israel-Lebanon ceasefire. Bitcoin responded by climbing back toward $77,300. Markets breathed.

Then, the IRGC issued a statement that ended the optimism fast:

“We warned you and you ignored it. Now enjoy Hormuz returning to its previous state.”

The reason? The US kept its naval blockade on Iranian ports in place even after...