Market Overview
Bitcoin, the world’s largest cryptocurrency, slipped 3% to $62,009.8 by 17:28 ET (21:28 GMT) on Monday, reflecting heightened risk aversion after renewed U.S.–Iran hostilities. The price decline kept Bitcoin roughly 50% below its October record high, and broader crypto assets also retreated, with Ether down 2.8% to $1,761.04, XRP down 3.3%, BNB down 1.9%, Solana down 3.4%, Cardano down 3.9%, and meme‑coins Dogecoin and $TRUMP each falling 2.2%.
Geopolitical Context
Tensions escalated sharply over the weekend when the United States and Iran exchanged fresh strikes, breaking a mid‑June interim peace deal and collapsing the ceasefire. Both sides issued conflicting statements about control of the Strait of Hormuz. President Donald Trump posted on Truth Social that the Hormuz Strait remains open, that the U.S. will act as “the guardian of the Hormuz Strait,” and that the U.S. will be reimbursed at a rate of 20% on all cargo shipped for safety and security measures. Iran’s state media countered by saying it had closed the strait until “stability” is restored and U.S. interference ends. U.S. Central Command reported completing four rounds of strikes against Iran in retaliation for attacks on commercial vessels, while asserting the chokepoint remained open.
Commodity and Monetary Impact
Amid the heightened geopolitical risk premium, oil prices spiked more than 9% on Monday, reigniting inflationary concerns. The surge in oil prices fed expectations of tighter Federal Reserve policy, as higher interest rates diminish the appeal of non‑yielding, speculative assets such as cryptocurrencies. Consequently, traders dumped risky assets, shifting preference toward artificial‑intelligence stocks.
Institutional Crypto Flow
Data from SoSoValue indicated that Bitcoin exchange‑traded funds have experienced eight straight weeks of net capital outflows, signalling a waning institutional appetite for digital assets.
Trump’s Crypto‑Related Financial Disclosures
Reuters analysis of filings with the U.S. Office of Government Ethics revealed that former President Donald Trump earned more than $1.4 billion in 2023 from family crypto ventures, including World Liberty Financial and a self‑named meme coin. The disclosures show his stock and bond portfolio grew at least fourfold over two years, with holdings in traditional securities ranging between $703 million and $2.6 billion by the end of 2025, up from $225 million to $608 million a year earlier. Because the filings list amounts in ranges, precise allocation of crypto proceeds cannot be pinpointed. Trump continues to hold a large stake in World Liberty Financial’s tokens, and his overall exposure to digital assets has increased.
Additional Details
The article was authored by Ambar Warrick and Vahid Karaahmetovic and published by Reuters on 13‑07‑2026, with an update on 14‑07‑2026.