Crypto bears hit by $370m liquidations as Bitcoin surges to $80,000
Updated
Updated · CoinDesk · May 4
Crypto bears hit by $370m liquidations as Bitcoin surges to $80,000
15 articles · Updated · CoinDesk · May 4
About $301.93 million came from shorts, with 97,235 traders affected after Bitcoin briefly reached $80,594, its highest since 31 January.
Bitcoin accounted for $179 million of losses and ether $95 million, while open interest rose in BTC, ETH and ZEC, signalling renewed derivatives activity.
The move follows another short squeeze in April, as negative perpetual funding and strong US spot Bitcoin ETF inflows support prices; ONDO also jumped on CLARITY Act optimism.
With global oil supply slashed, how long can the world economy withstand the shockwaves from the paralyzed Strait of Hormuz?
As a 'shadow fleet' defies the blockade, who is truly in control of the Strait of Hormuz and global oil supply?
Is 'Project Freedom' a genuine rescue mission or a prelude to a wider war in the world's most critical oil chokepoint?
The 13.7 Million Barrel Daily Oil Deficit Driving Global Inflation Amid the Strait of Hormuz Blockade
Overview
In April 2026, the U.S. imposed a naval blockade on the Strait of Hormuz to pressure Iran over nuclear talks, causing Brent crude prices to spike to $126 per barrel. Despite this, prices stabilized around $120–$125 in May due to the U.S. military's 'Project Freedom' escorting vessels, demand reduction from high prices, and strategic petroleum reserve releases. Iran's use of onshore and floating storage delays the impact but risks forced well shutdowns that could permanently damage oil reservoirs and tighten global supply. The blockade has fractured OPEC+, with the UAE leaving and pursuing non-dollar oil deals, while global markets face stagflation risks and accelerated shifts toward renewable energy amid ongoing geopolitical tensions.