Middle East Tensions and Inflation Data to Test Crypto Markets

A busy week is ahead for crypto markets as they navigate ongoing tensions in the Middle East and crucial inflation data from the US.

The Strait of Hormuz has been closed by Iran following an attack on a container ship, prompting airstrikes from the US.

Crypto market capitalization has remained steady at around $2.26 trillion over the weekend, but prices have dropped slightly this morning.

Bitcoin is currently trading just above $63,400, while ether has fared better, holding above $1,800.

The Kobeissi Letter notes that 'Q2 2026 earnings season has arrived, and Strait of Hormuz tensions are mounting again.'