According to Michaël van de Poppe (@CryptoMichNL), Iran's closure of the Strait of Hormuz marks a critical escalation in geopolitical tensions. This event is contributing to persistent downward pressure on risk-on assets such as Bitcoin (BTC) and various altcoins, with no signs of a trend reversal as long as the situation continues. Traders are advised to remain cautious as this scenario is described as a period of capitulation, where market sentiment drives further sell-offs in the crypto sector. Source: @CryptoMichNL on Twitter, June 22, 2025.