According to The Kobeissi Letter, Iran's parliament has officially approved closing the Strait of Hormuz, a vital channel for global oil shipments, for the first time since 1972 (source: The Kobeissi Letter, June 22, 2025). If sanctioned by Iran's top security body, this move could disrupt over 20 million barrels of oil exports daily, potentially causing sharp oil price spikes and increased volatility across global markets. For cryptocurrency traders, historical patterns show that such geopolitical tensions often trigger a flight to alternative assets like Bitcoin (BTC) and Ethereum (ETH) as investors seek safe havens. Traders should closely monitor oil price reactions and risk sentiment, as rising energy prices may indirectly boost demand for crypto assets, affecting BTC and ETH price action.

According to Mihir (@RhythmicAnalyst), 90 percent of Iran's oil exports are directed to China, making up 9 percent of China's total oil imports. This concentration raises questions about potential US trade actions toward China, especially given ongoing sanctions and geopolitical tensions. For crypto traders, increased US-China friction often leads to higher market volatility, affecting Bitcoin and altcoin prices, as seen in previous sanction-related news cycles (source: Mihir, Twitter, May 1, 2025). Traders should monitor developments closely for possible impacts on global energy markets and risk sentiment.