What Just Happened to Crypto Markets?
The crypto market has just experienced one of its fastest intraday moves in recent months, with over $50 billion added in market cap within a single hour.
Bitcoin surged to $78,000, breaking through key resistance levels, while Ethereum climbed above $2,450.
At the same time, data shows that more than $400 million in short positions were liquidated, accelerating the move upward and forcing bearish traders out of the market.
👉 But this wasn’t a typical crypto-driven rally.
Strait of Hormuz Reopens: The Real Catalyst
The key trigger came from geopolitics.
Following rising tensions in the Middle East, markets had priced in a worst-case scenario: a potential disruption or closure of the Strait of Hormuz, one of the world’s most critical oil transit routes.
Instead, the opposite happened:
- Iran signaled that the strait would remain open
- Commercial ships can pass, albeit with tolls
- A full-scale supply shock was avoided<...
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