Strait of Hormuz Closed Again by Iran: Bitcoin Plunges below 75k Amid Oil Disruption Fears

Iran has re-closed the Strait of Hormuz less than 24 hours after reopening it, with the IRGC placing it under “full control” and firing on at least one vessel, causing Bitcoin to plunged below  $75,000 amid new disruption fears.

A regional intelligence official reported the strait is “under full IRGC control and effectively closed,” with multiple vessels forced to turn around and the IRGC opening fire as part of the declared closure policy. Iran’s joint military command confirmed “control of the Strait of Hormuz has returned to its previous state under strict management and control of the armed forces,” warning it will block transit as long as the U.S. maintains its naval blockade on Iranian ports. 

Iran’s parliamentary speaker Mohammad Bagher Ghalibaf stated early Sunday the strait will remain closed “if the U.S. does not lift the blockade,” adding “it is impossible for others to pass while we cannot.” 

U.S. Response and Escalation

President Trump announced he is dispatching Vice President JD Vance, special envoy Steve Witkoff, and Jared Kushner to Pakistan for urgent negotiations with Tehran, insisting the blockade stays until a full deal on nuclear material handover. Iran accused the U.S. of “repeated breaches of trust” and ceasefire violations, with talks resuming Monday before the 10-day Israel-Lebanon truce expires. 

Reports indicate IRGC gunboats damaged commercial ships without injuries, underscoring the rapid reversal after Trump’s Friday claim the strait was “completely open.” 

Market volatility

Whether the $75,000 zone holds into Monday’s open remains the key question. A clean weekly close above $76K would confirm the structural breakout, even amid the whipsawing “peace trade” volatility.

Disclaimers: All contents in this article are for informational purposes only and does not constitute any form of advice.Third-party websites and their content are provided for informational purposes and user convenience only. Rola News does not control, endorse, or assume responsibility for any Third-party websites, including their content, accuracy, privacy practices, or any subsequent changes or updates made to them. This article is AI-assisted and has been reviewed by our editorial team.