The closure of the Strait of Hormuz has triggered a sharp rise in oil prices and a decline in stock markets, making the Federal Reserve chair candidate hearings the focal point. Bitcoin price retreated from $78,400 to the $74,000–$75,000 range, with significant impact from the CME gap; bearish views cite geopolitical risks and weakening technicals, while bullish views emphasize strong accumulation structure and buying support. Ethereum outlook: Price faces pressure due to broader market pullback and a DeFi hacking incident.
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