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Bitcoin nears $75,000 as US-Iran tensions trigger a short squeeze and boost demand.

Market News
13 Apr 2026
Bitcoin
View Source
Bullish
pluang ai news

Bitcoin surged toward $75,000 on April 13, 2026, driven by a short squeeze after President Trump's order to blockade the Strait of Hormuz amid US-Iran tensions. The price jumped from around $70,700 to highs above $74,900 as traders covered short positions, testing the upper range of a two-month consolidation. While institutional buying through ETFs supports the price, risks remain from potential tax-season selling and inflation concerns linked to rising oil prices. Analysts see $75,000 to $80,000 as near-term targets, but geopolitical and macroeconomic factors will influence Bitcoin's next moves.

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