According to The Kobeissi Letter, the United States has called on China to intervene and prevent Iran from closing the Strait of Hormuz, a critical global oil transit chokepoint. This development has heightened geopolitical risk, impacting global markets including cryptocurrencies. Traders should note that increased tension in the Strait of Hormuz can lead to volatility in both traditional energy markets and digital assets such as BTC and ETH, as investors may seek safe-haven assets amid instability (source: The Kobeissi Letter, June 22, 2025).