Escalating conflict between the United States and Iran has rippled through global markets, pushing oil prices and bond yields higher and reigniting fears that a prolonged disruption in the Strait of Hormuz could keep inflation elevated. Against that backdrop, Bitcoin dropped below $63,000, trading near $62,940 according to CryptoSlate data, a decline of roughly 1.4% over 24 hours. Prediction markets reportedly assign only a 3% chance that shipping traffic through the strait normalizes by August, signaling expectations of extended instability. The strait is a critical chokepoint for global energy supplies, and sustained tension there raises the risk of persistent inflationary pressure. Other leading cryptocurrencies also traded lower amid the broader risk-off sentiment, as investors weighed geopolitical uncertainty and its potential impact on monetary policy and global economic conditions.
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