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← ArchiveDaily BriefingGenerated 06:02 UTC

Thursday, 23 April 2026 · No. 22

Hormuz disruption tightens liquidity as Bitcoin consolidates with strong network health.

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The Lead

Persistent Iranian enforcement actions in the Strait of Hormuz drive the primary pressure across markets right now. The resulting energy price spike to over ninety four dollars forces central banks to abandon easing plans and prepare for potential rate increases instead. These policy shifts create tighter liquidity conditions that weigh directly on risk assets including Bitcoin. The price holds flat around seventy eight thousand dollars with volume that does not confirm any breakout attempt. In contrast the network demonstrates resilience through stable hashrate near nine hundred sixty exahashes per second along with gradual expansion in Lightning capacity. This miner and developer conviction stands at odds with the fearful sentiment, moderate MVRV, and wallet distribution patterns visible on exchanges. Most participants ignore how that mismatch leaves the asset exposed to a sharp downside move if support fails. Whether demand from entities evading sanctions in this environment can counteract the broader liquidity squeeze presents the question without any clear resolution. Reuters Bloomberg Glassnode

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