Bitcoin Holds Near $63,800 Despite Fresh US Strikes on Iran; Monday Oil Response in Focus

Bitcoin and Ether showed limited movement even after the US struck Iran and Tehran declared the Strait of Hormuz closed.

CoinDesk, a crypto-focused media outlet, reported on July 12 that Iran said it would shut the Strait of Hormuz until further notice. Vessel-tracking data showed some ship movement during Asian morning hours, though traffic remained below normal.

Bitcoin traded around $63,800. It was down 0.3% over the past 24 hours but still up 2% for the week.

Earlier on July 12, US Central Command said the strike was carried out on the orders of President Donald Trump. The attack targeted Iran's ability to hit commercial vessels and came after Iranian forces attacked a Cyprus-flagged container ship.

Ether was little changed near $1,800 and up 2% for the week. Solana was the weakest among major cryptocurrencies, falling 5% over the past seven days to $76. XRP traded around $1.09, while Dogecoin changed hands near $0.07.

CoinDesk said the muted market reaction suggested investors have grown accustomed to such events. When Iran first closed the Strait of Hormuz in March, Brent crude rose above $100 a barrel for the first time in four years and later climbed to around $120. Bitcoin also came under heavy selling pressure whenever tensions escalated at the time.

This time, however, oil, stock and bond markets are closed for the weekend, leaving Bitcoin as effectively the only major market pricing geopolitical risk in real time. So far, it has not treated the latest strikes as a major event.

CoinDesk said the real test will come on Monday. The key question is whether Bitcoin can hold up even if Brent crude surges when trading resumes after the weekend. If oil opens steadily instead, markets may read Iran's move to close the strait as another threat that could later be reversed, as in the past.