Bitcoin clears $82K as Trump halts Hormuz operation — $200M in shorts wiped out!

A sudden US-Iran de-escalation drove Bitcoin above $82,000 on Thursday, with President Trump pausing 'Project Freedom' — the military operation aimed at reopening the Strait of Hormuz — and signalling a possible framework agreement with Tehran. The relief was immediate and violent for short traders: CoinGlass data shows more than $200 million in short positions liquidated within 24 hours as BTC extended a weekly gain exceeding 7%.

Oil markets bore the brunt of the geopolitical unwind. Brent crude plunged 10% to $97 per barrel and WTI fell 9.82% to $88, erasing much of the risk premium that had accumulated since late February. Lower energy prices matter for crypto because they reduce the inflation overhang that had been keeping Federal Reserve rate-cut expectations in check — a cleaner macro backdrop is a direct tailwind for risk assets.

Bitcoin is now testing the $80,000–$85,000…