Bitcoin (BTC) price plummets to $70,623, oil prices surge?

Jakarta, Pintu News – Global financial markets were rocked again after the United States announced a blockade of the Strait of Hormuz, following the failure of peace talks with Iran. This decision immediately impacted the price of Bitcoin (BTC) which fell sharply to $70,623, while crude oil prices soared dramatically.

The escalating geopolitical tensions between the US and Iran have not only triggered volatility in the oil market, but also raised concerns among cryptocurrency investors. This situation marks a new chapter in the increasingly volatile global market dynamics.

US-Iran tensions trigger crypto and oil market turmoil

The announcement of the blockade of the Strait of Hormuz by US President Donald Trump was the main trigger for the turmoil in the financial markets at the end of last week. In his statement on Truth Social, Trump asserted that the failure of peace talks was due to Iran’s refusal to stop its nuclear program, which is considered the most crucial issue.

The Strait of Hormuz is a vital conduit for around a fifth of the world’s oil trade, so any disruption in the region has an immediate impact on global oil prices. Unsurprisingly, crude oil prices jumped 9.5% to $105 per barrel within half an hour of the market opening.

On the other hand, Bitcoin (BTC) experienced significant selling pressure, with prices dropping 1.9% to $71,686 after the blockade announcement. The decline continued to touch $70,623 when the US futures market opened on Sunday evening.

Also read: Bitcoin Price Today (14/4): Ready to Break $80,000 in April? Here’s the Analysis!

Iran’s Demand and the United States’ Response

In the peace talks that took place earlier, Iran made several demands to the United States, including the payment of war compensation and the release of blocked Iranian financial assets. However, President Trump did not directly address these demands in his statement, instead highlighting Iran’s refusal to halt the nuclear program as the main cause of the failure of the negotiations.

Trump also denounced Iran’s use of mines in the Strait of Hormuz as well as its demand for toll payments as a form of global blackmail. In response, Trump ordered the US Navy to block Iranian paying ships and destroy mines found in the shipping lane.

This decisive move by the United States further aggravates the situation in the Persian Gulf region, which has been experiencing high tensions for the past six weeks. Volatility in the oil market reached its highest level since Russia’s invasion of Ukraine in early 2022, showing how sensitive the market is to geopolitical issues.

Read also: Grayscale Cuts Q2 2026 Altcoin List: Focus on AI Projects, Remove Consumer Tokens?

Bitcoin (BTC) Performance Amid US-Iran Conflict

Despite its sharp decline, Bitcoin (BTC) as a whole has still recorded an increase of around 7.4% since the US-Iran conflict escalated on February 28. This increase came after the US airstrike that killed Iran’s Supreme Leader, Ayatollah Ali Khamenei, which was the starting point of the conflict escalation.

During this period, Bitcoin (BTC) was even able to outperform the performance of the S&P 500 index and gold, two assets that are usually the first choice in times of global uncertainty. This shows that interest in digital assets remains high, despite increased market volatility due to external factors.

However, it should be noted that the price of Bitcoin (BTC) is still far from its record high that touched $126,080 last October. The price drops in recent days are a reminder that the crypto market is highly vulnerable to global sentiment, especially with regards to geopolitical issues and macroeconomic policies.

Analysts expect volatility to remain high as long as tensions in the Strait of Hormuz have not subsided. Investors are advised to remain cautious and watch the situation closely.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Cointelegraph. Bitcoin falls, oil rises as US reportedly plans to block Strait of Hormuz. Accessed on April 14, 2026
• Featured Image: Generated by Ai