Bitcoin Liquidations Hit $815M as BTC Surges Above $78K Amid Iran Strait Opening

Gate News message, April 17 — Over $815.42 million in leveraged cryptocurrency positions were liquidated in the last 24 hours, according to CoinGlass market data. Short positions accounted for $661.93 million of the total, as traders betting against Bitcoin faced cascading losses.

Markets rallied on relief as Iran announced the Strait of Hormuz is fully open to commercial shipping, and President Trump signaled strong progress toward a landmark deal with Iran, easing energy supply concerns and boosting risk appetite. Bitcoin surged from a 24-hour low of $74,695 to a high of $78,232, trading at $77,537 at the time of publishing.