This is part of a broader trend of geopolitical tensions in the Middle East driving up costs for global trade and insurance. For crypto, it reinforces the asset's role as a hedge against systemic risk, but also introduces volatility from risk-off sentiment. The current market is in 'greed' territory, so geopolitical shocks could trigger a sharp correction or a safe-haven bid.

Saudi Arabia is holding talks over state-backed war insurance as insurers raise prices or restrict coverage due to Iran conflict and Houthi attacks.