Bitcoin holds near $66,500 as Iran crisis escalates
Business
Bitcoin is holding steady near $66,500 after US airstrikes killed Iran's Supreme Leader, leading to a major shipping jam in the Strait of Hormuz.
With about 200 vessels stuck and 20% of global oil flows on pause, energy prices are climbing—and things could get even pricier if the blockage drags on.
Investors are already hedging their bets
If oil hits $100 a barrel, it could slow down Fed rate cuts and put extra pressure on crypto and stock markets.
Investors are already hedging their bets—roughly $1.9 billion of Bitcoin put options are concentrated at the $60,000 strike on Deribit.
Gold prices are up too, showing how global tensions ripple across everything from your portfolio to gas prices.