the Crypto market He does something unexpected this weekend: almost nothing. Despite the third round US strikes on Iran With Tehran’s announcement of the closure of the Strait of Hormuz, Bitcoin barely declined. Here’s the breakdown Crypto news today And why Bitcoin price It ignores a major geopolitical shock.
What is the price of Bitcoin today?
the BTC price today It is priced at around $63,900, down about 0.3% over the 24-hour period but still up about 2% over the week. $ETH is trading near $1,803, $XRP around $1.09, $SOL near $76.60, and $DOGE at around $0.073. The total market cap is near $2.28 trillion. With oil, stock and bond markets closed for the weekend, bitcoin is one of the few assets pricing the latest escalation in real time, with a fuller reaction expected in crude oil when trading resumes on Monday.
What just happened between the US and Iran?
The escalation began on July 7, when US Central Command said US forces struck more than 80 targets in Iran in response to attacks on commercial ships near the Strait of Hormuz, and the US reimposed sanctions on Iranian oil sales. By July 8, President Trump said the memorandum of understanding and ceasefire with Iran were “over, as far as I’m concerned.” Over the weekend, the conflict deepened further: Iran’s Islamic Revolutionary Guard Corps closed the Strait of Hormuz after firing a warning shot at a ship using an unauthorized route — a dangerous move, given that the strait is one of the most important choke points for global oil.
How did the cryptocurrency market react to the US-Iranian strikes?
Crypto’s first reaction was to avoid risk. When Trump announced the end of the ceasefire, the price of Bitcoin fell by 2.5% and altcoins suffered huge losses, with nearly $450 million of leveraged positions liquidated. Altcoins bore the brunt, with $350 million in liquidations coming from a total of $450 million in altcoin pairs. But by July 9, the mood had flipped: Bitcoin rose 1.2% to $63,000, Ethereum rose 0.75%, and Nasdaq 100 futures rose with markets undisturbed by US airstrikes on 90 Iranian military targets.
Why does Bitcoin ignore geopolitical risks?
The major shift is how traders frame the conflict now. according to Market analysisInvestors stopped pricing the Middle East risk as a cryptocurrency event and started pricing it as a price event – the real concern is whether higher oil prices will ignite inflation and keep interest rates high. As a result, Bitcoin now tracks front-end Treasury yields more closely than traditional hedges like crude oil or gold. Notably, gold fell even as tensions escalated, indicating a potential shift to Bitcoin as an interest rate-sensitive asset.
What should crypto traders watch next?
Traders are focusing on the $60,000 level. Holding it through further escalation would reinforce the “Bitcoin as a price asset” thesis, while a sharp break lower would suggest that the calm has been temporary. Sentiment has improved – the Fear and Greed Index recently broke out of the extreme fear zone it has been in for 40 straight days – but this feels more like relief than condemnation. The biggest risk is the oil open on Monday, when crude oil finally reprices the Hormuz weekend close and could send new ripples through the markets. Crypto market today.
