Iran Closes Strait of Hormuz After US Airstrikes:Iran shuts down the critical Strait of Hormuz after US airstrikes on Iranian nuclear sites, triggering massive global concerns. With 20% of global oil supply and one-third of LNG shipments blocked, markets react sharply. The crypto market witnesses a steep fall as Bitcoin, Ethereum, XRP, ADA, TRON, PI, DOGE, and TRUMP tokens plunge. The UK Maritime Authority reports serious GPS disruptions, raising fears of US Navy intervention.
Iran Closes Strait of Hormuz After US Airstrikes
Tensions in the Middle East have dramatically escalated following a major decision by the Iranian Parliament, which has officially ordered the complete closure of the Strait of Hormuz. This move comes in direct response to the recent United States airstrikes targeting Iranian nuclear facilities, which has pushed the region to the brink of a broader geopolitical crisis.
The closure of the Strait of Hormuz has massive global economic implications. Roughly 21 million barrels of oil per day, accounting for nearly 20% of global oil supply, transit through this narrow 21-mile-wide waterway. Additionally, approximately 30% of all seaborne crude oil and one-third of the world’s liquefied natural gas (LNG) shipments pass through the strait.
This vital choke point is the main artery for oil exports from Gulf states, with about 90% of Saudi Arabian and 96% of Iraqi oil exports relying on this route. Any disruption, even a single day of closure, could result in over a billion dollars in deferred oil revenue.
In light of these developments, the UK Maritime Transport Authority has also reported serious GPS disruptions in the Strait of Hormuz, indicating rising risks for commercial shipping and navigation in the area. The possibility of US Navy intervention is being widely discussed, as Washington may seek to secure this critical waterway to prevent further disruption to global energy markets.
In fact, prior to this Iranian announcement, betting markets such as Polymarket had already assigned a 55% probability to Iran taking such an aggressive step.
The financial markets have swiftly reacted to these heightened geopolitical risks. Notably, the cryptocurrency market has witnessed a sharp sell-off following the news. Several major cryptocurrencies experienced significant declines. Bitcoin (BTC/USDT) on OKX dropped to 101,504.4, breaking below critical support levels.
Ethereum (ETH/USDT) fell to 2,209.41, indicating strong selling pressure across the altcoin segment as well. XRP (XRP/USDT) slumped to 1.9778, while Cardano (ADA/USDT) slid to 0.5362. TRON (TRX/USDT Perpetual) was seen trading at 0.26873 after a sharp fall, and PI (PI/USDT) dropped to 0.4869. Even meme coins were not spared, with DOGE (DOGE/USDT) falling to 0.15156 and TRUMP (TRUMP/USDT) sliding to 8.544.
The synchronized drop across digital assets reflects broader risk-off sentiment sweeping financial markets. Traders and investors are moving to reduce exposure to high-risk assets amid fears of a prolonged regional conflict that could have cascading effects on global trade, energy security, and economic stability. The combination of energy market disruption, potential military escalation, and navigation risks in one of the world’s most critical shipping lanes has raised alarm bells worldwide.
As the situation remains fluid, market participants will be closely monitoring developments in the Gulf, possible US military responses, and further moves by Iran. The Strait of Hormuz remains one of the most strategically important maritime chokepoints in the world, and its closure has already sent strong shockwaves across financial markets, particularly in oil and cryptocurrencies.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Readers are advised to conduct their own research and consult with professional advisors before making any investment decisions.