Bitcoin and Ether Show Minimal Movement Amid U.S. Strikes on Iran

On July 12, 2026, Bitcoin held steady around $63,800, experiencing a minor 0.3% decrease over 24 hours and a 2% increase over the week. Ether similarly remained stable at about $1,800, also up 2% for the week. Other cryptocurrencies like XRP saw slight declines, with XRP at $1.09 and dogecoin at around $0.07. Market reactions reflect a continuing trend of muted responses to geopolitical tensions.

The U.S. conducted its third round of airstrikes on Iran this week, targeting facilities that allegedly threaten commercial vessels. This escalation followed an incident where Iranian forces attacked a Cyprus-flagged container ship. In response, Iran declared that it would close the strategically important Strait of Hormuz, which is crucial for global oil transport, "until further notice." Vessel tracking indicates diminished traffic through the strait, although some movements were observed during early Asian hours on July 13.

The current lack of significant movement in Bitcoin and Ether, despite heightened geopolitical risks, marks a shift from earlier reactions. When Iran first closed the Strait of Hormuz in March, Bitcoin experienced sharp sell-offs, while oil prices surged past $100 per barrel at that time. This latest reaction could indicate that traders are viewing the strait's closure as a non-urgent threat. Marrying this analysis, market closures for stocks and bonds during the weekend leave Bitcoin as one of the few assets immediately reflecting these geopolitical developments.

However, the real test will emerge when markets reopen on Monday and crude oil trading resumes. It remains to be seen whether Bitcoin can maintain its stability if oil prices react dramatically to the unfolding situation. A sharp increase in oil prices may reinforce traders’ confidence that the threat from Iran is noteworthy, while a calmer response could suggest that the situation has been largely priced in.