Bitcoin

This event underscores the fragility of the Strait of Hormuz chokepoint, through which about 20% of global oil passes. Historically, such geopolitical shocks trigger a flight to safety, initially pressuring risk assets like crypto, but they also accelerate narratives around energy independence, de-dollarization, and decentralized alternatives. The current market, already in 'Fear' territory (F&G 27), is primed for a sharp risk-off move if oil spikes above $90/barrel.

US and Iran exchanged strikes on Saturday, with Iran hitting a water desalination plant in Kuwait, escalating tensions over the Strait of Hormuz.

Iran strike on Kuwait desalination plant threatens Iranian crypto mining, GCC weighs sanctions

Iran's strike on Kuwaiti desalination plant may trigger GCC-wide crypto sanctions, squeezing Iranian mining operations and boosting Bitcoin's network security.