Bitcoin Sits 45% Below Its Peak As Short Sellers Absorb $276M In Losses
West Texas Intermediate crude has hit $115 a barrel On the downside, about $2 billion in long positions sit near $65,000 — a smaller but real risk if momentum fades. That gap between short and long exposure is what has some traders watching closely for a possible extended squeeze. Bitcoin has made six runs at $70,000 since slipping below it in early February. Each attempt has fallen short. Monday’s move is the latest test of that resistance, and it arrives against a backdrop that is anything but calm.Related Reading
Energy Shock Adds Pressure On All Fronts
A standoff over the Strait of Hormuz has been tightening its grip on global energy markets since late February. Iran has rejected ceasefire terms, insisting compensation for war-related damage must be addressed before the strait reopens.
Oil prices have surged as a result. US gasoline costs are up sharply, and broader inflation fears have followed.
US President Donald Trump has called for Iran to reopen the waterway, citing global trade concerns. Reports indicate he has also suggested a deal with Iran may be within reach, while warning of severe consequences if talks collapse — including potential US control over Iranian oil resources.
Featured image from Unsplash, chart from TradingView
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