Bitcoin, ether little changed as U.S. launches fresh Iran strikes
Bitcoin and other major cryptocurrencies remained stable despite U.S. military strikes on Iranian targets. Markets appear to be treating the geopolitical escalation as a non-event, awaiting the opening of traditional oil and equity markets on Monday.
Why it matters
The muted reaction of crypto markets to geopolitical conflict suggests a shift in how digital assets are perceived as 'safe haven' or 'risk' assets compared to traditional commodities like oil.
Vessel-tracking data showed some traffic around the Strait of Hormuz in Asian morning hours Sunday, though movement through the chokepoint remained well below normal.
U.S. Central Command said President Trump ordered the strikes, which targeted Iran's ability to attack commercial vessels, after Iranian forces hit a Cyprus-flagged container ship. Iranian state media reported explosions along the country's southern coast, including the energy hubs of Bushehr and Asalouyeh and the port cities of Bandar Abbas and Bandar-e Dayyer.
Ether was similarly quiet at about $1,800, up 2% on the week. Solana was the weakest of the majors at $76, down 5% over seven days, while XRP slipped to $1.09 and dogecoin eased to about $0.07. The moves across the board were fractions of a percent on the day.
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