# Bitcoin nears $62K as Trump vows US takeover of Hormuz Strait US-Iran tensions trigger risk asset sell-off across global markets - **Source:** [Cointelegraph.com News](https://brifing.si/source/2e81e982-0137-4db0-8ac2-351f37085775) - **Published:** 2026-07-13 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/fefafbd3-a190-4405-bfbb-ac418273eeb8 ## Bitcoin's sharp decline Bitcoin approached $62,000 at the start of the week amid escalating US-Iran tensions. Market participants note continued outflow from risk assets due to geopolitical uncertainties. The cryptocurrency has lost over 5% of its value in the last 24 hours. ## Trump's Hormuz Strait remarks US President Donald Trump announced plans to take control of the Strait of Hormuz during a Fox News interview. Referring to Iran's recent blockade of this strategic oil passage as a 'guardian angel' service, Trump stated that compensation should be required for this protection. ## Rising oil prices With Brent crude trading around $75 per barrel, tensions in energy markets persist. Analysts note Middle Eastern conflicts are increasing volatility in both commodity and crypto markets, with investors seeking safe-haven assets. ## Intense short-selling pressure Market data reveals 'extremely aggressive' short positions accumulating in Bitcoin. Observers highlight the volume-weighted average price (mVWAP) as critical support, warning that the $60,000 level could be retested if selling pressure continues. ## $70K price target remains Some analysts argue that indicators like RSI and trading volume suggest selling exhaustion. Trader Roman maintains that higher timeframes still target $70,000-$75,000, claiming that spot demand will inevitably trigger an upward move. ## Critical week for investors Experts warn Bitcoin may enter a macro downtrend before September. With mixed technical signals compounding geopolitical risks, investors are advised to prioritize risk management during this volatile period. ## Sources covering this story - https://cointelegraph.com/markets/bitcoin-threatens-62k-in-risk-asset-out-as-donald-trump-says-us-will-run-closed-hormuz-strait?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._