Bitcoin bounces to $72.5K as markets react to US Strait of Hormuz blockade

Bitcoin rallied to $72,500 as US stocks reacted to US efforts to blockade the Strait of Hormuz. Despite the rebound, BTC traders warned that a price correction remains a risk.

Bitcoin (BTC) reversed its losses after Monday’s Wall Street open as markets digested the newest developments in the US-Iran war.

Key points:

Bitcoin joins US stocks in a relief bounce despite the US blockade of the Strait of Hormuz going ahead.

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