23.06.2025 02:49
Amid escalating geopolitical tensions following recent US airstrikes on Iranian targets, the Iranian Parliament has voted in favor of a measure authorizing the closure of the Strait of Hormuz. This strategically vital waterway, a crucial transit route for global oil shipments, now awaits the final approval of Iran's Supreme National Security Council before any action is taken.
The potential closure of the Strait of Hormuz, a move with immense global implications, has sent shockwaves through cryptocurrency markets. Within a 24-hour period, approximately $1 billion in crypto assets were liquidated, reflecting a significant wave of risk-averse selling. This dramatic sell-off was accompanied by a sharp decline in Bitcoin's price, dipping below the $99,000 mark.
The lack of clear pronouncements from influential figures within the cryptocurrency sector and international regulatory bodies adds to the prevailing uncertainty. Market participants are understandably apprehensive, closely monitoring the evolving geopolitical situation and its potential repercussions. The observed market reaction mirrors historical patterns, where similar threats to the Strait of Hormuz have previously resulted in substantial increases in global oil prices.
This significant development underscores the interconnectedness of global events and their impact on financial markets. The potential disruption of oil supplies, a consequence of the proposed Strait of Hormuz closure, has triggered a flight to safety, manifesting as significant liquidations and price drops in the cryptocurrency realm. Further developments from the Supreme National Security Council are keenly awaited, as their decision will profoundly affect both global energy markets and the volatile world of cryptocurrency. While at the time of writing, Bitcoin's price sits around $101,203.13, according to data from internet sources, the ongoing uncertainty continues to shape market sentiment.
