# IranTension

Gulf risk re-priced fast this week and crypto felt it.
Crude jumped over $85 per barrel on July 21 as US-Iran rhetoric spiked, with reports of US posture shift near Strait of Hormuz and fresh talk of curbs on Tehran oil flow. Gold pushed up with oil, US equity tech trimmed, yet Bitcoin held $65,500-$66,400 band, up 2.8% on week and as high as $66,900 Tuesday. Ether held near $1,917, up 2% on week. That hold vs sharp oil spike shows spot ETF bid acted as buffer.
Why crude matters for crypto? Higher oil lifts real yields and risk of supply shock, which often hits high beta first. This time BTC h