Overview
- Bitcoin jumped near $78,000 on reports the Strait of Hormuz reopened, then fell back toward $76,000 after Iran closed the waterway again less than a day later.
- The sharp move set off about $762 million in forced liquidations across crypto, including $593 million from traders who had bet on a drop, according to CoinGlass.
- Spot Bitcoin exchange-traded funds that hold the coin directly took in about $996 million for the week, the strongest net inflows since January based on SoSoValue data.
- Social analytics firm Santiment said negative comments still outnumber positive ones during the rise, showing lingering doubt among smaller investors.
- Bitcoinist reported large Bitcoin purchases by major exchanges and market makers totaling roughly $4.5 billion, a claim that has not been broadly confirmed.