Brent crude surged to $95.50 a barrel as fresh tension around the Strait of Hormuz pushed war-risk pricing back into global markets. Bitcoin traded around $74,335 on Monday morning, down 1.6% over the past 24 hours but still up 4.8% for the week. Compared with the moves in oil and equity futures, crypto losses stayed relatively contained.
Hormuz tension sends risk assets into reverse
Market pressure returned after the US Navy seized an Iranian vessel over the weekend and Tehran tightened its control over the Strait of Hormuz. War-risk premiums, which had been easing for three weeks, moved back to the front of the pricing picture. On Friday, after Iran said the strait was “completely open,” the S&P 500 had closed at a record high and boosted optimism across emerging markets. That tone changed quickly once the weekend developments hit.
Energy markets reacted first. European natural gas futures jumped 11%, US S&P 500 futures fell 0.6%, and European stock indexes were expected to open down 1.2%. Gold slipped 0.8% to $4,790, while the US dollar regained safe-haven demand.
Major cryptocurrencies retreat, but selling remains measured
Bitcoin weakened, though not by much compared with traditional markets. According to CryptoAppsy, the asset moved through the weekend volatility and renewed Middle East risk with far less turbulence than stocks and other conventional instruments. The broader crypto complex showed a similar pattern.
Ether fell 2.6% to $2,272, Solana lost 1.5%, and BNB held at $618. Most of the top ten cryptocurrencies traded lower, but none posted losses greater than 3%. One market view cited in the report said this was the fourth major Iran-driven risk wave absorbed by crypto since the conflict began, and that the scale of sell-offs has become visibly smaller than in earlier episodes.
Crypto may keep diverging from equities
Analysts said the effect of geopolitical headlines on crypto prices appears to be fading. That may mean traders inclined to sell on Iran-related news have already left the market, or that spot ETFs are adding stronger support. Weekend volatility, once heavily shaped by derivatives trading, now looks to be giving way to a different equilibrium.
Traders are also watching whether the US 10-year Treasury yield stays near 4.27% and how dollar strength feeds into Bitcoin pricing. The report said the historical link between crypto and equities could weaken more during periods dominated by geopolitical shocks. It also pointed to two near-term levels: if Bitcoin holds above $74,000 during European trading and the Hormuz situation worsens, its image as a geopolitical shock absorber may attract more attention; if renewed Iran headlines push it below $73,000, that resilience will face a tougher test.