Bitcoin and ether were little changed after the U.S. launched another round of strikes on Iran and Tehran said it had closed the Strait of Hormuz. The muted crypto reaction stood out because most traditional markets were closed for the weekend, leaving bitcoin among the few major assets trading in real time.
Bitcoin and ether were little changed after the U.S. launched another round of strikes on Iran and Tehran said it had closed the Strait of Hormuz. The muted crypto reaction stood out because most traditional markets were closed for the weekend, leaving bitcoin among the few major assets trading in real time.
The limited move matters because digital assets were among the few major markets open as the geopolitical news developed. Oil, stock and bond markets were shut for the weekend, so bitcoin was one of the main assets reflecting investor reaction before broader trading resumes on Monday.
Bitcoin traded near $63,800 on Saturday after the U.S. carried out its third round of strikes on Iran this week, while Tehran declared the Strait of Hormuz closed until further notice. The largest cryptocurrency was down 0.3% over 24 hours but remained up 2% for the week.
The limited move matters because digital assets were among the few major markets open as the geopolitical news developed. Oil, stock and bond markets were shut for the weekend, so bitcoin was one of the main assets reflecting investor reaction before broader trading resumes on Monday.
Ether was also steady at around $1,800 and up 2% on the week. Other major tokens saw only small daily moves, with solana at $76 after a 5% weekly decline, XRP slipping to $1.09 and dogecoin easing to about $0.07.
The restrained response contrasted with earlier episodes of tension around the Strait of Hormuz. CoinDesk noted that when Iran first closed the strait in early March, Brent crude moved above $100 a barrel and later peaked near $120, while bitcoin sold off sharply during escalations.
The next market test may come when crude trading reopens. Roughly one-fifth of the world’s seaborne oil moves through Hormuz, and tanker traffic through the strait had already been running below normal before the weekend.
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