Global Markets React to Escalating Conflict Between US, Israel, and Iran

Global events are having a significant impact on both the oil and cryptocurrency markets. Tensions between the US, Israel, and Iran have led to increased uncertainty and volatility in these markets.

The Strait of Hormuz, which handles approximately 20% of the world's daily oil exports, has been affected by the conflict. This has led to a significant increase in crude prices, with a surge of over 2% on Friday.

Cryptocurrency markets have also mirrored this volatility, experiencing sharp declines in response to the geopolitical upheaval. The digital asset market lost approximately $128 billion following Saturday's military actions, with Bitcoin falling by as much as 3.8% to $63,038 and Ether dropping 4.5% to $1,835.