Bitcoin Falls to $78,326 After Trump Issues Military Warning Over Iran Strait

Gate News message, April 24 — Bitcoin retreated to approximately $78,326 on Thursday after U.S. President Donald Trump issued a military warning to Iran, stating he had ordered the U.S. Navy to “shoot and kill” any Iranian vessels placing mines in the Strait of Hormuz. The pullback followed a rally that had lifted BTC to $79,449 earlier in the week, as traders reduced risk exposure amid escalating U.S.-Iran tensions and rising oil prices.

Trump said there was no deadline for ending the war with Iran or for Tehran’s response to his peace proposal, adding to market uncertainty. Overnight, the U.S. Defense Department boarded another sanctioned vessel carrying Iranian oil in the Indian Ocean, while reports indicated Iran had attacked three cargo ships in the Strait of Hormuz and captured two. Iran’s lead negotiator announced the country had received its first revenue from tolls on vessels transiting the waterway. The Strait of Hormuz remains a critical global oil route, keeping geopolitical risk at the forefront of trader attention.

Despite the pullback, Bitcoin retained most weekly gains, up approximately 7.5% from the start of the week. The Crypto Fear and Greed Index shifted from Extreme Fear to Fear, signaling reduced defensive positioning. Institutional demand continued to support prices, with MicroStrategy purchasing approximately $2.5 billion in Bitcoin this week. Analysts noted the recent rally was largely driven by derivatives activity, while support levels near $73,000–$75,000 remain closely watched by market participants.