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World markets stumbled this week after U.S. and Israeli air raids hit Iran’s nuclear facilities at Fordow, Natanz, and Isfahan, prompting Iran’s parliament to promise the closure of the Strait of Hormuz. The action pushed oil prices over 3% higher, with Brent crude rising above $77/barrel. Sparta Commodities analyst June Goh cautioned that the threat of closure has “multiplied” oil infrastructure risk. Goldman Sachs puts Brent at $110/barrel if Hormuz disruptions continue.
The ripple effect caught crypto hard, Bitcoin fell below $99 000, a 6% weekly decline, while Ethereum fell almost 10% and XRP dropped 8%. More than $950 million in crypto positions were liquidated. Former BitMEX CEO and co-founder of Maelstrom Fund Arthur Hayes comforted readers: “This weakness shall pass and $BTC will leave no doubt as to its safe haven status.” In the midst of chaos, Binance launched a new “will function” feature to enhance crypto resilience.
With traditional oil markets and cryptocurrency alike shaken, investor panic is fueling liquidations and price surges. As finance meets geopolitics at Hormuz, all eyes are on Washington, Tehran, Tel Aviv, and exchanges like Binance, to navigate the consequences.
