Bitcoin hits $77,000 as Fed decision looms, Trump eyes Hormuz blockade
Bitcoin surged to $77,000 amid anticipation of the Federal Reserve's policy decision and heightened geopolitical tensions as former President Trump hinted at a potential blockade of the Strait of Hormuz. Prediction markets show dwindling confidence in Bitcoin reaching $80,000 by the end of April, with the Polymarket contract dropping from 42% to 19.5% in a week. Traders are weighing geopolitical risks and macroeconomic signals as potential catalysts for Bitcoin's price movement. Moderate trading volume on the prediction market suggests limited liquidity, making prices sensitive to small orders.
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Bitcoin reached $77,000 as the Fed’s decision approaches and Trump prepares for a lengthy blockade of the Strait of Hormuz. The Polymarket contract on Bitcoin reaching $80,000 by the end of April sits at 19.5% YES, down from 42% a week ago. Market reaction The $80,000 contract dropped 37 points in a single move yesterday. Current odds show clear skepticism about Bitcoin reaching that level with only a couple of days left in April. Actual USDC traded on this market was $125,323, with $8,440 needed to move the price by five points. That depth indicates moderate liquidity — a relatively small order could shift the contract meaningfully. The $150,000-in-April contract trades at 0.1%.
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