Market exits in the crypto market quickly dissipated when traditional markets reopened on Monday. Bitcoin, which had risen to 68 thousand on Sunday, pulled back by about 1% and returned to the 66.7 thousand mark. The entire altcoin sector followed it lower: Ether fell by 2.5%, Solana plunged by 4.1%, and XRP lost 3.6%. Over the week, Solana is already down 8%, the most painful among the top cryptocurrencies.

The reason is clear: the US-Iran conflict, the closure of the Strait of Hormuz, oil surged by 6.4% to $77.5. This is the biggest jump in energy prices since 2022. Asian stocks fell by 1.4%, and US futures by 0.7%. Gold rose to 5350 per ounce. When markets panic, cryptocurrency is not a safe haven, but a risk asset that falls along with everything else.

The most interesting part is that the rise in oil creates a dilemma for the Fed. Inflation concerns push back expectations for rate cuts, which means tighter liquidity conditions for risk assets like crypto. But some traders believe that the panic may be exaggerated. The argument is simple: Iran has long been cut off from global finance; OPEC and the US can make up for oil losses if supplies are not completely interrupted. Everything depends on whether the strait will open and how long operations will continue.

While these questions remain up in the air, crypto is trading like speculation in a world that has become even more unstable. The situation remains contradictory: one day they talk about negotiations, the next day Iran’s security chief denies it. Trump said operations will continue, but the media writes about readiness for dialogue. The market is waiting for clarity.