Crypto market liquidations hit $820M as Bitcoin price taps $78K
Nearly a billion dollars in leveraged crypto positions were liquidated in the past 24 hours as the Bitcoin price rallied above $78,000.
Bitcoin's rise amid geopolitical calm highlights its sensitivity to global events, impacting investor sentiment and future price expectations.
The price of Bitcoin breaks a seven-month downtrend as geopolitical shifts and prediction markets point to $84K next.
April 17, 2026, 9:11 pmRep.
April 17, 2026, 8:05 pmNearly a billion dollars in leveraged crypto positions were liquidated in the past 24 hours as the Bitcoin price rallied above $78,000.
Traders betting against Bitcoin and crypto are witnessing a cascade of liquidations as Iran announces the Strait of Hormuz is fully open to commercial shipping. In the last 24 hours, a whopping $815.42 million in leveraged crypto bets have been liquidated, according to the market data tracker CoinGlass.
The Bitcoin-buying firm’s stockpile had shown losses on paper since early February.
Bitcoin surged past $78,000, reaching an intraday high of $78,348. The rally pushed its 24-hour gains to 4.1% and its total market cap to $1.56 trillion. Key Takeaways: Bitcoin hit $78,348 as Iran reopened the Strait of Hormuz, marking its highest price since Feb. 4.
AI-driven stock issuance for Bitcoin purchases may boost institutional interest, impacting market dynamics amid geopolitical uncertainties.
Bitcoin pole vaulted to $78,000 and altcoins soared after Iran said that the Strait of Hormuz was fully open.
Bitcoin is now printing green candlesticks on the weekly and daily timeframes, and this raises the question of whether the worst has already passed or maybe the floor is still months away.
Bitcoin's surge reflects reduced geopolitical risk, but future volatility hinges on geopolitical tensions and policy shifts impacting markets.