09.04.2026 11:45
Bitcoin and XRP prices moved cautiously on Thursday as renewed geopolitical friction once again put pressure on digital assets. Within a single day, the total market value of cryptocurrencies slipped 1.41 %, settling at roughly $2.41 trillion after news emerged that Iran had re‑closed the Strait of Hormuz.
Despite the heightened volatility, Bitcoin managed to cling to the crucial $71,000 threshold, holding its ground while the broader market entered a brief phase of wider consolidation. XRP, meanwhile, continued to defend the $1.33 mark, maintaining its upward momentum that had built up after the United States and Iran signed a temporary two‑week cease‑fire agreement. President Donald Trump, speaking with Pakistani officials, confirmed a 14‑day pause on any planned military strikes, a move that underscored the urgent need to keep the vital waterway open.
The Strait of Hormuz, a narrow channel responsible for transporting nearly one‑fifth of the world’s oil, carries outsized economic significance. When concerns about a prolonged shutdown faded, energy markets rallied, buoyed by the expectation of uninterrupted oil flows.
Less than a day after the cease‑fire was announced, Iranian state media reported that the strait had been shut again, citing Israeli military actions against positions in Lebanon as the catalyst. An Iranian spokesperson warned that any foreign vessel attempting to navigate the disputed passage without permission would be met with force, stating that violators could face “severe consequences.”
A tweet from a market‑watching account highlighted the rapid reversal: “BREAKING: Iran has closed the Strait of Hormuz again, less than 24 hours after agreeing to reopen it as part of the cease‑fire deal. Israel continued bombing Lebanon after the cease‑fire was announced, which Iran says is a direct violation of the agreement.” The renewed blockade reignited worries about soaring oil prices and broader economic instability.
In reaction, cryptocurrency traders adopted a more measured stance, tempering their positions as the specter of escalating energy costs and geopolitical turmoil loomed once more.
