Middle East Situation Disturbs Market, Bitcoin Faces CME Gap Test
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Summary
BroadChain learned that at 16:30 on April 20, according to PANews, the situation in the Middle East
BroadChain has learned that at 16:30 on April 20, according to PANews, the Middle East situation has fluctuated, the Strait of Hormuz has been closed again, market risk aversion sentiment has intensified, and Brent crude oil opened with a surge of 7.9%. Bitcoin retreated from a high of $78,400 to the range of $74,000-$75,000. CME left two gaps at 77.3K and 67.2K, becoming key gravitational points for short-term prices. Bearish views suggest that geopolitical risks and weakening technical factors resonate, potentially driving prices downward to find a bottom; bullish views emphasize buying support near $72,000, with chip structure being repaired. Ethereum is under pressure due to the broader market correction and the hacking incident of the Kelp DAO cross-chain bridge. Analysts warn that if it breaks below the $2,377 support level, it may further decline. In terms of market dynamics, the RAVE token plummeted over 98%, and Kelp DAO suffered an attack resulting in losses of approximately $292 million, triggering a chain reaction in DeFi. As of April 20, Bitcoin ETFs saw a net inflow of $996 million last week, and the market fear and greed index stands at 29 (fear).