According to The Kobeissi Letter, in 2024, Saudi Arabia was responsible for 38% of total crude and condensate exports through the Strait of Hormuz, amounting to 5.5 million barrels per day. This critical oil transit route supplies not just Asia but also the US and EU, highlighting the strait's significance for global energy markets. For cryptocurrency traders, disruptions or geopolitical tensions in the Strait of Hormuz can trigger volatility in oil prices, which often correlates with movements in crypto assets like BTC and ETH, as energy markets and risk sentiment are closely linked (source: The Kobeissi Letter, June 22, 2025).