Bitcoin Slides Toward $62,000 as Trump’s Strait of Hormuz Comments Rattle Markets

Bitcoin extended its losses on Monday as broader financial markets reacted nervously to fresh comments from President Donald Trump regarding the Strait of Hormuz. Btc slipped closer to $62,000 during Wall Street’s opening hours, tracking a wider selloff in risk assets. US stock indexes also opened lower, with the Nasdaq Composite down around 1% at the time.

Trump Signals US Control Over Key Oil Route

Speaking in a television interview, Trump said the United States intends to take charge of the Strait of Hormuz, a critical route for global oil shipments that Iran shut down over the weekend. He described the move as the US becoming a kind of guardian over the strait, adding that the country should be compensated for taking on that role. Oil prices held firm following the remarks, with US crude trading near $75 per barrel.

Heavy Short Selling Pressures Bitcoin Lower

Traders pointed to aggressive short positioning as a key driver behind bitcoin’s drop. One analyst noted that price action settled right at a widely watched volume based support level, calling it a critical point for buyers to defend. Another market watcher separately flagged unusually heavy short activity alongside rising open interest, suggesting bearish bets were building quickly even as spot selling added to the pressure.

Some Traders Still Expect a Bounce Back

Despite the weak short term picture, certain analysts maintain that bitcoin could still recover toward the $70,000 to $75,000 range. Supporters of this view pointed to signs of selling exhaustion in momentum indicators, along with data suggesting spot buying has outpaced selling in recent sessions. According to this outlook, a rebound remains a matter of timing rather than certainty being in question.