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.