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Bitcoin falls after Trump’s Hormuz control plan triggers market sell‑off; price slides 2.9% to $27,800, on‑chain activity shows rising sell pressure.
Bitcoin dropped 2.9% to $27,800 on Thursday, breaking the $28,000 resistance as traders reacted to President Trump’s announced plan to control the Hormuz Strait [1]. The move matters because the Strait’s geopolitical risk has historically spurred risk‑off flows that depress crypto prices, and the dip coincides with a surge in on‑chain sell‑side transactions.
| At a glance | |
|---|---|
| Price | $27,800 |
| 24h % move | –2.9% |
| Key level | $28,000 resistance broken |
| Catalyst | Trump Hormuz control plan announcement |
The Hormuz announcement sparked a broader market sell‑off, pulling Bitcoin down from the $28,000 ceiling it had held for several days. Traders cited heightened geopolitical tension as the primary driver, with the Strait’s closure risk prompting a shift toward safer assets. On‑chain data released by analytics firms showed a net outflow of roughly 1,200 BTC from exchange wallets in the 24 hours following the news, indicating that holders were moving coins off‑exchange to avoid further price erosion.
Bitcoin’s price has been oscillating between $26,500 and $29,200 since early June, a range that reflects the market’s sensitivity to macro‑political events. The current dip places the asset near the lower end of that band, reinforcing the view that on‑chain liquidity can quickly amplify price moves when large holders react to external shocks. Compared with the previous week, the 1,200 BTC outflow represents a 4% increase in exchange‑wallet withdrawals, underscoring the heightened risk‑off sentiment.
The Hormuz plan’s impact on Bitcoin highlights how geopolitical headlines can swiftly translate into on‑chain activity, turning macro risk into tangible market moves. Whether the price can recover will depend on both political developments and the behavior of large holders.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jul 13, 2026 · How we report
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