Iran doubling down — Hormuz stays closed until US bends the knee on their terms, says IRGC's Hossein Moheb.

This isn't just geopolitics theater. Hormuz = 20% of global oil flows. Closure means oil shock, which means macro uncertainty, which means risk-off across all markets.

Crypto doesn't trade in a vacuum. If oil spikes and equities dump, expect $BTC and alts to get dragged down short-term. Flight to safety = liquidity drain.

Watch DXY and crude futures. If this escalates, we're looking at a nasty volatility cascade.