According to The Kobeissi Letter, oil markets have been partially pricing in risk as shipments through the Hormuz Strait have steadily declined since June 13, 2025 (source: @KobeissiLetter, Twitter). While the current situation is not a full shutdown, which would be the worst-case scenario, the observed decline could impact global inflation expectations and trigger Federal Reserve rate hikes if disruptions worsen. For cryptocurrency traders, renewed rate hike risks typically put downward pressure on BTC and ETH prices by strengthening the US dollar and reducing risk appetite across digital assets. Monitoring oil shipment trends and central bank responses is crucial for anticipating market volatility.