Gotrade News – Bitcoin plunged below $75,000 on Sunday (19/04) after the unprecedented full closure of the Strait of Hormuz triggered a global risk-off wave. The sell-off deepened a downtrend that has gripped the crypto market since late February 2026 amid escalating Iran-US tensions.

• Bitcoin dropped below $75,000 after the Strait of Hormuz was fully closed for the first time in history
• The Fear & Greed Index plummeted to Extreme Fear at 21, signaling intense selling pressure
• Approximately $237 million in long BTC positions were liquidated in 24 hours, $4.4 billion in one month

The Strait of Hormuz, which handles roughly 20% of global oil trade, was shut down completely, according to Kabar Bursa. This marked the first full closure in the strait’s history, sending shockwaves across financial markets.

Thirteen oil tankers reportedly reversed course the day before the official closure announcement. The disruption immediately pushed oil prices higher and amplified inflation concerns worldwide.

Iran-US Negotiation Breakdown Deepens Market Anxiety

Iran rejected a second round of negotiations with the United States, calling the process “misleading.” Iranian officials cited “inconsistencies” during the first round of talks as their reason for walking away.

President Trump responded by threatening to “destroy every power plant and every bridge in Iran.” This rhetoric further fueled the risk-off sentiment that has been building across global markets.

Bitcoin had already been under pressure since February 28 due to the escalating geopolitical conflict. Kabar Bursa noted that BTC previously fell from above $100,000 when Iran first closed the strait in early 2026.

Investors are now rotating into traditional safe-haven assets like gold rather than crypto. The combination of risk-off sentiment, rising oil prices, and inflation fears has created a hostile environment for digital assets.

Massive Liquidations and Extreme Fear Grip the Market

BTC hit an intraday low of $76,624 before partially recovering, according to Liputan6. At the time of reporting, Bitcoin was trading near $79,937, down approximately 3.2%.

The Fear & Greed Index sat at 21, deep in Extreme Fear territory, per Liputan6’s data. This reading indicates that investor sentiment toward crypto has deteriorated sharply.

Twenty-four-hour trading volume reached approximately $64.7 billion, above the normal average. Liputan6 noted the decline was driven by forced liquidations rather than organic selling from BTC holders.

Around $237 million in long Bitcoin positions were liquidated in the past 24 hours, according to Liputan6. Over the past month, total long liquidations amounted to a staggering $4.4 billion.

The $77,000 level represents a psychologically important round number and key technical support zone. If this level fails to hold, selling pressure could extend to lower levels.

Bitcoin’s market cap currently stands at approximately $1.54 trillion with 57.3% dominance over the total crypto market. The overall crypto market cap sits at around $2.69 trillion, per Liputan6.

The dual pressure of geopolitical escalation and cascading liquidations has created a challenging environment for crypto. Traders should watch for developments in Iran-US negotiations and oil price movements as leading indicators for BTC’s next direction.