Bitcoin Price Climbs Toward $75,000 as US-Iran Strait of Hormuz Tensions Trigger Short Squeeze
On April 13, 2026, Bitcoin's price surged significantly from $70,741 to over $74,900, approaching $75,000 amid geopolitical tensions between the US and Iran in the Strait of Hormuz. This price movement was largely driven by a sharp short squeeze as traders quickly covered bearish positions.