Markets on Edge: BTC and ETH Stuck as Oil Surges, ETF Hype Builds
A lot just hit the market at once. While crypto’s still stuck in range, two major stories are taking over: rumors of a new ETF approval, and rising geopolitical heat.
The U.S launched Operation Midnight Hammer, targeting three Iranian nuclear sites. In response, Iran moved fast and now plans to close the Strait of Hormuz, which is one of the world’s key oil routes. jumped, markets tensed up, and crypto’s now caught in the middle.
BTC and ETH: $100K Break Fails to Hold, Momentum Fades
broke below the $100,000 level yesterday, sliding down to around $98,250 before finding temporary support. The move shook up bullish sentiment, not because of the drop itself, but because $100K had become a key psychological level. Losing it so easily signals weakness, not strength.
followed the same pattern. It dropped to around $2,115, failing to defend the $2,200–$2,300 zone that traders had hoped would hold during ETF speculation. Despite the narrative, there’s no real follow-through yet
For now, both BTC and ETH are stuck in soft territory. Funding rates remain neutral to slightly positive, but without momentum, the market feels more hesitant than confident waiting for a trigger to move decisively again.
Strait of Hormuz Closure Sends Oil Higher
After the US strike on Iranian nuclear sites, Iran wants to retaliate by having the Strait of Hormuz closed, a key route for global oil shipments. Over 20% of the world’s oil moves through it.
Oil prices jumped right after, raising concerns about inflation and supply disruptions. For crypto, that’s pressure. Rising oil often leads to tighter monetary policy, which usually weighs on risk assets like BTC and ETH.
Interestingly, Trump has long favored higher oil prices to support U.S. energy producers. So while the strike raises global risks, some might see this as a geopolitical win-win for the U.S.
ETH and Altcoin ETF Rumors Surface
Bloomberg’s James Seyffart mentioned in a tweet that the SEC approval may be happening to spot ETFs for a broader list of tokens including Ethereum, , , , , and others.
There’s no official confirmation yet, and markets haven’t reacted meaningfully. For now, it’s just worth watching.
Final Take
Crypto’s stuck in a holding pattern. BTC lost $100K, ETH is flat, and ETF rumors alone aren’t moving the market. Meanwhile, the Strait of Hormuz is closed, oil is slowly rising, and macro risk is back on the table.
It’s the kind of setup where nothing happens until it suddenly does.
Disclosure: This content is for educational purposes only and does not constitute investment advice. Always DYOR, Do Your Own Research.
Cryptocurrencies are subject to high market risk and vulnerability, despite their high growth potential. Users are strongly advised to conduct thorough research and invest at their own risk.