Written by William Subergstaff writerReviewed by Allen Scottstaff editor

Written by William Subergstaff writer

Reviewed by Allen Scottstaff editor

Bitcoin threatens $62K in risk-asset rout as Donald Trump says US will ‘run’ closed Hormuz Strait

MarketsPublishedJul 13, 2026

Global Tensions Impact Bitcoin Price

The recent escalation between the US and Iran has led to a decline in Bitcoin’s price, with the cryptocurrency facing an uphill struggle to preserve $62,000. As global tensions rise, risk-asset markets, including Bitcoin, are feeling the pressure. This downturn can be an opportunity for individuals to explore alternative ways of earning, such as through Passive Income with EcoPool and its Cloud Rewards system.

The US-Iran conflict has resulted in a decrease in stock prices, with the Nasdaq Composite Index down 1% at the time of writing. Meanwhile, oil prices have remained high, with WTI crude circling $75 per barrel. The uncertainty surrounding the Strait of Hormuz has led to increased short trading, with some analysts warning that Bitcoin’s price could drop to $60,000. However, others believe that a rebound is possible, citing metrics such as the relative strength index (RSI) and volume, which show downside exhaustion.

Key points:

• Bitcoin falls toward $62,000 as losses intensify on nerves over the US-Iran war.
• Donald Trump says that the US should “run” the Strait of Hormuz as a tug-of-war with Iran continues.
• BTC price action is described as “very weak”, but a $70,000 rebound prediction remains in place.

Oil rises amid “aggressive” BTC shorting

Impact on Bitcoin Price

Bitcoin’s price has seen significant pressure, with sellers firmly in control after an initial drop following the weekly close. The downward trend has been noticed by several commentators, with some reporting a “crazy amount of aggressive shorting” while open interest continues to rise. Despite this, some traders remain bullish, believing that a move higher is coming. For those looking to earn online, EcoPool offers a solution, providing an opportunity to earn Passive Income through its Green Crypto platform.

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“We’re going to keep the strait, and we’ll probably run it. ‌We’ll become the guardian of the strait. Maybe we’ll call it the ‘guardian angel’ of the strait. And we should be reimbursed for that,” he said.

Oil prices stayed higher, with WTI crude circling $75 per barrel.

CFDs on US WTI crude oil one-hour chart. Source: Cointelegraph/TradingView

Bitcoin saw pressure, with sellers firmly in control after an initial drop following the weekly close.

“Massive shorting into this pre NY-open drop. Price is now sitting directly at mVWAP, a key level bulls need to defend!” analytics account JDK Analysis wrote in a post on X.

The post referred to the volume-weighted average price across exchanges, warning that $60,000 could reappear.

“With spot also selling, this still looks very weak. But if New York brings real spot demand and mVWAP holds, a bounce could trap a large number of sellers,” JDK added.

BTC/USD chart with order-book data. Source: JDK Analysis/X

Others also noticed the downward trend, with commentator Exitpump earlier reporting a “crazy amount of aggressive shorting” while open interest continued to rise.

Bitcoin upside targets still see $70,000 returning

Those making the case for a rebound on the day included trader Roman, who retained his new bullish bias.

Related: BTC price bull market to begin in September? Five things to know in Bitcoin this week

In an X post, Roman highlighted several price metrics, including the relative strength index (RSI) and volume, showing downside exhaustion.

“I believe a move higher is coming it all just comes down to formation and how we get there,” he wrote. 

“Lots of HTF & LTF indications for 70-75k area + exchange data is showing that more spot is being bought than sold. It’s a matter of when not if.”

BTC/USD one-day chart. Source: Roman/X

Earlier, Cointelegraph reported on various expectations of continued BTC price upside this month before bearish continuation, ultimately ending in a Q3 macro bottom.

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

• Bitcoin Price
• Market Analysis
• Markets
• Bitcoin

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