U.S.-Iran flare-up hits risk assets; Bitcoin slides to $76,926 as oil tops $90

CoinDesk reports that global markets shifted into risk-off mode after the U.S. carried out strikes on targets near Iran's Strait of Hormuz. Crude oil jumped above $90 a barrel, while Asian equities and cryptocurrencies sold off in tandem. Bitcoin fell to about $76,900, pulling major tokens lower. President Trump confirmed the strikes and warned Iran against retaliation. He later said he had no intention of pushing Iran back into negotiations and did not care whether Tehran signs an agreement. Traders are now repricing the risk of disruption to shipping through the Strait of Hormuz, a critical artery for global crude transport. Investors worry that any further escalation could constrain energy supplies for an extended period, keeping pressure on risk assets. The selloff spread beyond oil and crypto. Japan's Nikkei dropped 2.7%, led by losses in technology shares. South Korea's August inflation printed at 3.1%, slightly below the 3.2% consensus, but did little to improve sentiment. In digital assets, Bitcoin was last at $76,926.53, down 2.2% on the day. Ethereum traded at $2,395.12, down 3.0%, and XRP at $1.33, down 3.7%. Total crypto market capitalization slipped to $2.7 trillion, down about 1.4% in 24 hours, with trading volume around $82.4 billion. Solana fell to $98.77, down 4.0%, while BNB traded at $681.55, down 1.8%. Markets remain focused on the next geopolitical developments. Some analysts argue the current Bitcoin setup resembles the 2023 consolidation phase. Analyst Ali Charts said Bitcoin then tested resistance repeatedly, pulled back toward the midpoint of its range each time, and broke out on the fourth attempt. If the pattern repeats, he sees room for additional rallies followed by pullbacks, potentially including a retest of the $70,000 area before a stronger move. For now, investors continue to treat geopolitics as the primary driver. If U.S.-Iran tensions intensify and oil stays elevated, capital may keep favoring defensive positioning and volatility in risk assets could remain high in the near term.