Bitcoin Down, Oil Up Amid US Strait of Hormuz Blockade
- Posted on April 13, 2026
- By Cointelegraph
- 10 Views
In brief
Geopolitical tensions between the United States and Iran have triggered significant market volatility across multiple asset classes. Following unsuccessful diplomatic negotiations, the Trump administration implemented a blockade of the Strait of Hormuz, a critical maritime chokepoint for global energy trade. This escalation has propelled crude oil prices upward by approximately 10%, while Bitcoin experienced a notable correction, slipping below the $71,000 threshold. The dual movement reflects investor concerns about inflation and supply chain disruptions stemming from regional instability.
Bitcoin Down, Oil Up Amid US Strait of Hormuz Blockade
Bitcoin retraced below $71,000 after failed peace talks between the US and Iran led the Trump administration to block the Strait of Hormuz, sending oil prices up nearly 10%.
