The United States attacked three key nuclear facilities of the Islamic Republic of Iran over the weekend, triggering risk-averse sentiment and pushing gold prices near $3,400. Israel and Iran continued to attack each other on Sunday, with Iran potentially closing the Strait of Hormuz, causing Brent crude oil prices to surge 5.7%. Bitcoin briefly fell below the psychologically important $100,000 mark, reaching a low of $98,200. Ethereum fell even deeper, reaching a low of $2,111.
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ToggleIran May Close Strait of Hormuz, Oil Prices Soar
Iran's Foreign Minister warned earlier on Sunday that after the United States bombed three major nuclear facilities, the Islamic Republic of Iran "reserves all options to defend its sovereignty".
Meanwhile, Iranian state media quoted a senior lawmaker reporting that the Iranian parliament supports closing the Strait of Hormuz. However, the report stated that the final decision to close the strait lies with Iran's National Security Council.
U.S. Secretary of State Marco Rubio called on China on Sunday to prevent Iran from closing the Strait of Hormuz, as China is Iran's most important oil customer and maintains friendly relations with the Islamic Republic of Iran.
(Iran's Killer Move: Would Global Energy Be Disrupted If the Strait of Hormuz Is Blocked?)
U.S. attacks on Iran raised concerns about supply disruptions, with WTI crude oil rising above $75 and Brent crude oil prices surging 5.7% to $81.40 per barrel.
Bitcoin Briefly Falls Below 99K, Network Liquidates $7.5 Billion
During the weekend financial market holiday, cryptocurrencies were the first to be impacted. Bitcoin briefly fell below the psychologically important $100,000 mark, reaching a low of $98,200 last night. Ethereum fell even deeper, reaching a low of $2,111. Cryptocurrency positions worth $753 million were liquidated within 24 hours, primarily in BTC and ETH.
Coinglass's Fear and Greed Index also returned to the fear zone of 40.
Risk Warning
Cryptocurrency investment carries high risk, and its prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
