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Bitcoin absorbs weekend risk as Strait of Hormuz oil flows disrupted
Bitcoin hovered around $62,900 to $63,900 on Friday and early Saturday as Brent crude settled above $85 and shipping disruption in the Strait of Hormuz reduced tanker crossings.
Bitcoin traded near $62,900 on Friday afternoon and was about $63,900 by early Saturday after recovering from a roughly 38% drop versus its October 2025 all-time high, according to CryptoSlate. The move coincided with a period when traditional markets and pricing signals are largely paused for the weekend, but crypto remains open.
CryptoSlate links the pressure to renewed disruption risk tied to the Strait of Hormuz, where the waterway normally carries about 20.9 million barrels of oil per day, roughly one-fifth of global petroleum consumption. The outlet reports that tanker crossings have fallen to near-record lows after the United States reimposed a naval blockade on Iranian ports and Iran responded with missile strikes on Gulf state infrastructure, with Iran also striking two UAE-flagged supertankers in Omani territorial waters.
The report says oil futures, Treasury markets, and US equities will close for the weekend, but Bitcoin will not, making it, in CryptoSlate’s framing, the first liquid global asset forced to reflect whatever comes next in the conflict. It adds that partial disruption can matter because oil markets may price uncertainty before any physical shortage occurs, and shipping restrictions can lift insurance and security costs before supply is actually lost.
CryptoSlate also cites Brent’s move higher, with Brent crude settling at $85.97 on July 17, up 2.06% on the day, and West Texas Intermediate at $80.93, up 2.51%. The outlet describes a potential chain from higher crude and transport costs to inflation expectations, then to anticipated Federal Reserve rates and Treasury yields, before concluding with how those expectations can affect dollar demand and risk appetite heading into Monday.
Latest closeWTI crude $79.00 ▼0.8%|Brent $84.94 ▼0.0%|Bitcoin $64,458.87 ▲0.9%