Hormuz Headlines Pressure Crypto, Bitcoin Red Again
Bitcoin weakened on Monday (April 13), extending its decline since the weekend after risk appetite was hit by the lack of progress in US-Iran ceasefire talks and Washington's move to pursue a maritime blockade against Tehran. BTC fell 0.9% to US$71,022.5 at 2:30 a.m. ET, reversing course after being boosted by optimism about negotiations last week.
Sentiment worsened when President Donald Trump ordered a blockade of the Strait of Hormuz, although US Central Command emphasized that the measure primarily targeted Iranian ports and ships. The policy, which took effect at 10:00 a.m. ET, is seen as potentially opening the door to military escalation and prolonging disruption to global logistics and energy markets—transmission channels that typically pressure risk assets, including crypto, through growth and liquidity channels.
Risk appetite also came under pressure from a surge in US CPI inflation in March, fueled by rising energy prices related to the Iran war, reinforcing concerns about "higher for longer" and curbing interest in speculative assets. Altcoins were flat to weak: Ether fell 0.8% to US$2,197.73, while XRP rose 0.4% to US$1.3352. Solana, Cardano, and BNB traded narrowly below 1.5%, while Dogecoin and the $TRUMP token were relatively flat.
Source: Newsmaker.id
