Global Markets Reel as US Navy Seizes Iranian Ship

The US Navy's seizure of an Iranian ship has triggered a significant response from global markets. Oil prices have surged, with Brent crude jumping 5.7% to $95.50 a barrel and WTI rising by 6.9% to near $90.

Meanwhile, stock futures have fallen, with the Dow, S&P 500, and Nasdaq all down between 0.6% and 0.7%. Bitcoin, however, has proven more resilient, dropping just 1.6% to $74,335 in the past 24 hours.

The incident marks the fourth major Iran-related scare for crypto in recent times, but analysts suggest that holders who planned to sell on geopolitical news have already done so. The growing presence of spot Bitcoin ETFs may also be contributing to a more stable floor for prices.