The brief period of optimism in the cryptocurrency markets has been abruptly interrupted. Following a rally that pushed Bitcoin near $78,000 on the hopes of a negotiated ceasefire, renewed military clashes between the United States and Iran have sent shockwaves through risk-on assets, triggering localized sell-offs and widespread market volatility

The geopolitical landscape deteriorated rapidly over the weekend, reversing the de-escalation narrative that had dominated mid-April: 

• Strait of Hormuz Closed: On the evening of April 18, the Islamic Revolutionary Guard Corps (IRGC) announced the closure of the Strait of Hormuz—a critical artery for global oil shipments—citing the continued U.S. blockade of Iranian vessels