The cryptocurrency market entered the weekend under geopolitical pressure. The failure of talks between the US and Iran, followed by military actions, created a cautious atmosphere among investors. As a result of these developments, major crypto assets, especially Bitcoin, saw a decline.
The Strait of Hormuz decision triggered sell-offs in the market
The talks on Sunday lasted approximately 21 hours, but the parties could not reach a common ground. The US side stated that Iran did not approach the conditions offered. Iranian media, on the other hand, wrote that the process was stalled due to US demands. The mutual statements weakened the possibility of an agreement in the short term.
Following the talks, US President Donald Trump's order to impose a naval blockade on the Strait of Hormuz accelerated the sell-off in the market. The increase in tension in this region, which is critical for global energy flow, led to an exit from risky assets. The possibility of a wider tension in the Middle East was quickly reflected in pricing.
Bitcoin fell by approximately 1.18 percent in the last 24 hours, dropping to $70,776 and approaching the $70,000 mark during the day. Ethereum fell 1.41% to trade around $2,183, while XRP dropped 0.52% to $1.32. Solana declined 0.62% to $81.8, while Dogecoin's loss was limited to 0.30%, stabilizing around $0.09. TRON also saw a slight decrease of 0.09%, remaining at $0.32. Cardano lost 0.88%, falling to $0.23. On the other hand, BNB rose 0.39% to over $597, while Hyperliquid (HYPE) increased 1.58% to $41.4.
The sharp rise in oil prices has brought inflation expectations back into focus. Following developments around the Strait of Hormuz, Brent crude rose above $100. This supported the expectation that tight monetary policies may continue for a longer period in global markets. A similar picture was observed in traditional markets. Selling pressure dominated US stock markets at the beginning of the week. The S&P 500 and Dow Jones indices fell by approximately 1 percent, while losses were even higher on the Nasdaq. Investors' risk aversion became more pronounced. Despite this, a lasting sense of weakness has not yet emerged across the entire market. Institutional interest continues. Inflows into spot Bitcoin ETFs, in particular, remain noteworthy. Strong capital flows into these products were observed last week.
In the coming days, the course of geopolitical developments will be decisive. Tensions between the US and Iran and volatility in energy markets will continue to shape the direction of the cryptocurrency market.
