Crypto markets stall as oil surges past $100 on Strait of Hormuz blockade
CoinDesk·2h ago·Neutral
What Happened
Bitcoin dropped below $70,600 after failing to break through $74,000 resistance, while Ether fell to $2,190. Brent crude oil surged above $100 per barrel following President Trump's Strait of Hormuz blockade order. The Iran conflict has inversely affected crypto and equities against oil and dollar prices. Bitcoin remains trapped in a February trading range between $63,000 and $75,000.
Key Entities
BitcoinEtherBrent crude oilStrait of HormuzDonald TrumpIranCoinDesk