Bitcoin held steady at $70,740 on Monday April 13, 2026, down just 0.01% in this crypto market update. Traders digested Sunday’s sharp selloff and geopolitical turmoil in the Middle East. The Fear & Greed Index dropped to 42. That signals fear as markets enter a risk-off mood.

Crypto Market Update: Key Movers Today

Ethereum traded at $2,183.21, down 0.39% over 24 hours. XRP inched up 0.01% to $1.3250. Solana gained 0.37% to reach $81.96. Binance Coin climbed 0.87% to $597.35. Cardano led altcoin gains with a 1.27% rise to $0.239. Most major cryptocurrencies traded flat or slightly lower after Sunday’s volatility.

Hormuz Blockade Sends Oil Soaring, Crypto Wobbles

President Trump ordered a naval blockade of the Strait of Hormuz over the weekend. The Strait is a narrow waterway connecting the Persian Gulf to the open ocean. Roughly 20% of global oil shipments pass through this chokepoint.

Oil prices gapped up more than 8% when markets opened Monday. Bitcoin dropped over 3% on Sunday as the blockade news broke. Risk-off sentiment dominated across equities and crypto markets.

Glassnode reported heavy profit-taking. Selling pressure reached $20 million per hour above $70,000. Investors fled to safe-haven assets as geopolitical uncertainty spiked.

What Does the Technical Picture Show?

Bitcoin found support around the $68,000 to $70,000 zone during Sunday’s selloff. The price held above this level despite heavy selling. Resistance sits near $73,000 to $75,000. Bitcoin has struggled to break higher there in recent weeks.

The Fear & Greed Index at 42 sits in fear territory. That is below the neutral 50 mark. Sunday’s drop tested lower support boundaries. Buyers stepped in to prevent further losses. Short-term consolidation around $70,000 appears likely unless geopolitical developments shift dramatically.

What Algorithmic Traders Are Watching

• Volatility expansion from geopolitical risk: Sunday’s 3% drop created elevated ATR readings. Systematic strategies may reduce position sizes when volatility spikes above historical norms.
• Oil and crypto correlation patterns: Energy market shocks typically trigger risk-off flows. Algorithmic traders monitor correlations between oil futures and Bitcoin to gauge contagion risk.
• Weekend selloff volume analysis: Sunday’s selling pressure exceeded typical weekend volumes. High volume during declines confirms distribution rather than noise.
• Support and resistance confirmation: The $68,000 level held during Sunday’s test. A break below this zone would signal further downside risk to $65,000.
• Fear & Greed sentiment shift: The index dropped from neutral territory into fear. Extreme fear readings below 30 often precede bounce opportunities for contrarian strategies.

What Is the Market Outlook?

The near-term outlook remains cautious. Geopolitical risk dominates the narrative. The Hormuz blockade introduces significant uncertainty into energy markets and broader risk assets.

Bitcoin’s ability to hold $68,000 support provides some technical stability. A sustained break above $73,000 resistance would signal renewed bullish momentum. Fidelity strategist Jurrien Timmer noted that strong corporate earnings help traditional markets absorb geopolitical shocks. Crypto markets lack this earnings cushion. They remain vulnerable to headline risk.

The $68,000 support level is critical for bulls to defend. A move above $73,000 would suggest the worst of the selling pressure has passed. Until geopolitical tensions ease, sideways consolidation appears most likely.

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Disclaimer: The information provided in this article is for educational purposes only and does not constitute financial advice. Trading involves significant risk and you should only trade with capital you can afford to lose. Past performance is not indicative of future results. Always conduct your own research before making any trading decisions.

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