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Cryptocurrency markets showed resilience on Monday compared with equities and commodities as geopolitical tensions between Washington and Tehran intensified after weekend developments.
Over the weekend, the U.S. Navy conducted an intercept operation involving an Iranian vessel identified as the TOUSKA. President Trump said on Truth Social that U.S. Marines took control of the ship, while warning of potential strikes against Iranian infrastructure, including power facilities and transportation networks, if diplomatic efforts failed.
Iran responded by reinstating restrictions on maritime traffic through the Strait of Hormuz, a key chokepoint for about one-fifth of global petroleum shipments. This reversal came days after Tehran said on Friday that the waterway was “completely open,” a development that had helped push the S&P 500 to an all-time high earlier in the session.
Bitcoin was trading at $74,335 in Monday morning activity, down 1.6% over the prior 24 hours. The cryptocurrency still posted a weekly gain of 4.8%. The move marked the fourth major Iran-related disruption to markets since hostilities escalated, with each subsequent episode associated with smaller downside pressure on digital asset valuations.
Energy markets reacted sharply higher. Brent crude rose 5.7% to $95.50 per barrel, while West Texas Intermediate climbed about 6.9% to just under $90 per barrel. European natural gas futures increased as much as 11% during trading.
Gold declined 0.8% to $4,790 per ounce. The U.S. dollar strengthened modestly as some capital shifted toward more traditional defensive assets.
U.S. equity index futures indicated a negative start. Dow Jones Industrial Average futures fell about 0.7%, while S&P 500 and Nasdaq 100 futures each declined roughly 0.6%. European equity futures suggested a 1.2% drop at the market open.
The weekend developments reportedly erased three weeks of declining “war premium” across global financial markets. Equities and emerging market assets had broadly gained on Friday after Iran’s announcement that strait access was open.
Observers noted that since the Middle East conflict intensified, successive waves of Iran-related headlines have produced progressively smaller drawdowns in Bitcoin’s value. One explanation offered was that geopolitically sensitive holders may have already reduced exposure after earlier escalations.
Another factor cited was the maturation of spot Bitcoin exchange-traded fund products, which may be helping to establish stronger price support.
Market participants were also watching whether the 10-year Treasury yield, around 4.27%, combined with dollar strength could pressure Bitcoin through broader risk-asset correlations.
Bitcoin was holding near $74,000 as European trading began on Monday.
Beyond geopolitics, investors were preparing for a heavy corporate earnings calendar, with major reports scheduled from Tesla, Intel, and United Airlines in the coming days.
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