Relay_Station / Zone_39
MARKET
13.04.2026
Bitcoin Dips to $70,540 as US-Iran Talks Collapse, Hormuz Blockade Ordered
The negotiations, spanning 21 hours over the weekend, concluded without an agreement, as confirmed by Vice President JD Vance. Shortly thereafter, the U.S. Central Command announced it would enforce new restrictions on maritime traffic around Iranian ports starting at 10:00 AM Eastern Time on April 13. This directive, targeting ships entering and exiting Iranian coastal waters, swiftly re-ignited concerns over crude oil flows through the critical Strait of Hormuz, a waterway essential for approximately 20% of the world's oil supply.
In immediate response, oil prices surged above $100 per barrel, reflecting renewed fears of prolonged disruption in one of the world's most vital energy corridors. This macro shift triggered a broader retreat across traditional financial markets as well, with the S&P 500 and Dow Jones both declining by about 1%, and the Nasdaq 100 falling 1.3%. The interconnectedness of global assets became starkly evident as digital currencies mirrored the downturn in equities.
Beyond Bitcoin's notable drop, other major cryptocurrencies experienced significant pullbacks. Ethereum, XRP, and Solana each registered declines exceeding 3% within the reporting period. At press time, Bitcoin had recovered slightly to trade around $70,877, but remained considerably below levels achieved following a brief rally last week that was fueled by earlier ceasefire hopes.
This rapid reversal erased gains that had emerged after President Trump's two-week ceasefire plan initially lifted risk assets. The renewed geopolitical tensions forced traders to reprice Middle East risk into inflation fears, leading to a scramble for safe-haven assets. Analysts noted that the magnitude of Monday's crypto market drop also highlighted a fragile market structure, with Glassnode data indicating that approximately 13.5 million Bitcoin addresses were in a state of loss around the $70,800 price point, suggesting potential selling pressure on any rebound.
Despite the significant price correction, spot Bitcoin exchange-traded funds (ETFs) still recorded robust inflows last week, accumulating $786.3 million, marking the strongest weekly performance since early January. Ethereum ETFs also saw a resumption of inflows, totaling $187.1 million. This divergence suggests that while immediate market sentiment is driven by geopolitical fear, institutional interest in regulated crypto investment vehicles persists, underpinning a longer-term bullish outlook for some segments of the market.
The abrupt shift in market dynamics underscores the ongoing influence of global macroeconomic and geopolitical events on the volatile cryptocurrency landscape. With the ceasefire set to expire around April 22 and ongoing discussions surrounding the CLARITY Act in the U.S. Senate, how will the crypto market absorb these persistent external pressures while institutional adoption continues to evolve?
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