Iran-US Strikes Send Oil Near $90, Trigger Broad Crypto Selloff

The United States and Iran traded further strikes as tensions around the Strait of Hormuz escalated, driving energy prices higher and triggering a broad selloff in risk assets. Oil climbed toward $90 a barrel, a level that has weighed on both stocks and gold even as bitcoin has so far proven more resilient than other cryptocurrencies. Every large-cap token fell over the past 24 hours, with high-beta majors such as solana, ether and xrp losing roughly three times what bitcoin gave up, according to CoinDesk. The divergence suggests investors are treating bitcoin as a relatively defensive asset within crypto even as the broader risk-off mood intensifies. What remains unresolved is how long the Hormuz standoff lasts and whether oil holds near $90 or pushes higher, which would likely deepen pressure on both equities and digital assets.