Bitcoin (BTC) reversed its losses following the start of the US-Iran war and joined US stocks in a relief bounce. Despite the ongoing blockade of the Strait of Hormuz, markets were relieved that traffic not directly from Iranian ports would be unaffected. Trading company QCP Capital highlighted the increasing role of Chinese trade as a factor in the Iran saga, stating that any blockade would cut off most of the region's oil exports. Meanwhile, WTI crude oil circled $102 per barrel after briefly testing the $100 mark at the start. Trading analyst Jelle warned that Bitcoin may break a classic "Bart Simpson" failed breakout pattern, erasing its gains from earlier in April.