The Hormuz Strait crisis remains unresolved, and Bitcoin has fallen below 68K.

Affected by the US-Iran conflict, global markets suffered heavy losses. The S&P 500 index fell 1.5% last Friday, marking the fourth consecutive week of declines and the longest losing streak in a year. Gold experienced its largest weekly drop in over 40 years but has since rebounded slightly, currently hovering around $4,500. Oil prices continue to fluctuate at high levels. On March 22, U.S. President Trump’s threat to Iran over the Strait of Hormuz triggered investor sell-offs, causing Bitcoin (BTC) to drop below 68K this morning, and Ethereum (ETH) to fall back above $2,000.

(Gold drops below 4500! Stocks, bonds, and gold all decline—Is cash the safest haven now?)

Trump and Iran threaten each other as the Hormuz Strait crisis intensifies

On Saturday evening, U.S. President Trump issued a 48-hour ultimatum to Tehran, demanding the reopening of the Strait of Hormuz, or else he will strike its power plants. The deadline expires Monday evening (New York time).

Iran responded that any such attack would force it to close the waterway indefinitely and retaliate against key U.S. and regional allies’ facilities, indicating both sides could escalate the conflict.

(Trump’s 48-hour ultimatum! If power plants are bombed, Iran may destroy Middle Eastern data centers and desalination plants)

Affected by the US-Iran war, global markets took a heavy hit, with stocks and bonds falling simultaneously last week. The S&P 500 declined 1.5% on Friday, marking the fourth consecutive week of declines and the longest streak in a year. U.S. Treasury yields have risen to their highest levels in months.

Gold experienced its largest weekly decline in over 40 years but has rebounded slightly, currently around $4,500. Oil prices continue to fluctuate at high levels.

Bitcoin drops below 68K

Cryptocurrency markets declined 2.65% in 24 hours, with a market cap of $2.35 trillion. Particularly, Trump’s threat over the Strait of Hormuz on March 22 triggered risk asset sell-offs, causing Bitcoin to fall below 68K this morning, and Ethereum to drop back above $2,000.

After seven days of net inflows, Bitcoin spot ETF funds are now flowing out again, with a total outflow of $300 million over three days. The market’s fear and greed index has fallen to 25. Investors are becoming more conservative amid ongoing Middle Eastern conflicts.

This article on the Hormuz Strait crisis and Bitcoin dropping below 68K first appeared on Chain News ABMedia.