Analysis: The renewed closure of the Strait of Hormuz triggered risk aversion, causing Bitcoin to fall back to $75,000.

CoinFeed reported on April 19th, citing Cointelegraph, that Bitcoin's price fell back to approximately $75,000 due to renewed tensions in the Middle East. Market concerns about an escalating conflict between the US and Iran, coupled with the renewed closure of the Strait of Hormuz, have brought the risk of rising oil prices back into focus, significantly increasing macroeconomic uncertainty. Data shows that Bitcoin had previously touched a near ten-week high of $78,400, but subsequently faced downward pressure. Market analysts believe that geopolitical events and oil price volatility are dominating short-term risk appetite changes. In the past 24 hours, approximately $260 million was liquidated in the crypto market, indicating significant pressure on long positions. Meanwhile, Bitcoin continues to encounter resistance near the key technical level of the 21-week moving average, facing downward pressure in the short term. Market participants point out that in this highly sensitive environment, any sudden news could quickly reverse market direction, potentially further exacerbating short-term volatility.