Bitcoin swings below $78,000 as oil surge and U.S.-Iran tensions spark crypto selloff
Updated
Updated · CoinDesk · Apr 27
Bitcoin swings below $78,000 as oil surge and U.S.-Iran tensions spark crypto selloff
14 articles · Updated · CoinDesk · Apr 27
Bitcoin reversed from $79,500, dropping 2% after failing to break $80,000, as Brent crude hit $107 and nearly $300 million in crypto futures were liquidated.
Altcoins led losses, with LDO falling 17% and major sector indexes down up to 2.5%. Ether dropped 2.2%, while XRP futures open interest rose 2.5% to a one-week high.
The selloff coincided with U.S. President Trump canceling talks in Pakistan, escalating U.S.-Iran tensions. Despite volatility, some tokens like PENGU and JUP gained, and market indicators remain neutral compared to last month.
Can billions in institutional buying finally smash Bitcoin's stubborn $80,000 resistance level?
With war-driven inflation, can central bank decisions break Bitcoin's price stalemate?
Will the Strait of Hormuz crisis finally prove if Bitcoin is a true safe-haven asset?
Beyond oil prices, what hidden economic shocks will the Hormuz blockade unleash globally?
Do strained U.S. naval forces have the readiness to sustain this high-stakes blockade?
How will China, Iran's top oil customer, react to the ongoing naval blockade?