Bitcoin’s whip‑saw week
Bitcoin swung sharply in the last 48 hours—it dipped below $67,000 after President Trump’s speech and a 5% oil surge, then rebounded roughly 3% to about $68,394 as hopes for de‑escalation around the Strait of Hormuz rose. ( )
Bitcoin’s intraday range on April 2 showed a $65,725.26 low and a $66,888.57 close, with 24‑hour spot trading volume around $39.32 billion, according to CoinMarketCap’s historical data for BTC. (coinmarketcap.com) Derivatives liquidations accelerated: CoinGlass data reported by CoinCentral put total crypto liquidations at $403 million in 24 hours, with bitcoin positions accounting for $98.3 million and ether $104.5 million. (coincentral.com) President Trump delivered a primetime address on April 1, 2026, saying the U.S. would hit Iran “extremely hard over the next two to three weeks,” a line widely quoted in transcripts and White House materials. (whitehouse.gov) Derivatives positioning contracted sharply around the speech: CoinGlass/market aggregators recorded BTC futures open interest sliding about 2.5% within four hours and $153.7 million of liquidations in that window. (computing.net) Oil markets reacted violently—Brent moved above $106 per barrel and WTI topped roughly $104, representing an almost 5% intraday jump that hit risk assets across equity and crypto markets. (coincentral.com) (gulfnews.com) Diplomatic signals that eased markets included Iranian state reports that Tehran and Oman are drafting a protocol to monitor transit through the Strait of Hormuz, and satellite tracking showed three tankers taking an Omani‑hugging route—developments cited by news wires as prompting a pullback in earlier selloffs. (cnbc.com) (bloomberg.com) As the Hormuz reports circulated, U.S. and global equity futures trimmed earlier declines—major indexes erased about a 2% drop—while market indicators such as the Coinbase premium moved negative, signaling short‑term retail and dealer flows shifted during the volatility. (coindesk.com) (computing.net)
