Bitcoin Hits $78K as Hormuz Reopening Fuels Crypto Surge

Bitcoin powered 4% higher to $78,000 on April 17—its highest in months—after Iran reopened the Strait of Hormuz, easing oil shock fears and lifting risk appetite. The rally built on morning gains to $77,770 (up 3.6%), with Ethereum climbing 4% above $2,400 resistance to $2,447. Crypto stocks like MicroStrategy soared 13%, while Ethereum ETFs saw $18M inflows on April 16 and $300M over six days. Tailwinds include Goldman Sachs' Bitcoin ETF filing, though Bitmine's $3.8B loss adds volatility to the bullish tone.