Cryptocurrency

Bitcoin falls below $63,000 as markets give Hormuz traffic just 3% chance to normalize by August – Crypto News

Published

3 weeks ago

July 13, 2026

Dripp

Bitcoin slipped below $63,000 as renewed fighting between the United States and Iran pushed oil prices higher, drove bond yields up, and revived concern that an extended disruption in the Strait of Hormuz could keep inflation elevated.

Data from CryptoSlate shows the largest cryptocurrency traded near $62,940, down about 1.4% over 24 hours. Other leading digital assets, including Ethereum, XRP, and Solana, all posted modest losses of less than 2% during the reporting period.

CoinGlass data showed that this price performance resulted in $252.9 million in cryptocurrency positions being liquidated over the previous day, with traders holding leveraged long positions accounting for most of the losses. Such liquidations occur when exchanges automatically close undercollateralized trades, often accelerating a decline as prices pass through crowded levels.

Bitcoin held up better than many Asian markets, but any idea that investors would treat it as a refuge quickly faded. It moved with the rest of the risk trade, swinging on the same rate fears that dragged technology stocks and other speculative assets lower.

Bitcoin’s $60K price floor is back in play as Hormuz oil shock returns

BTC fell below $63,000 after new U.S. strikes as oil, the dollar and yields rose and equity futures retreated.

Jul 13, 2026 · Liam ‘Akiba’ Wright

Strait of Hormuz chokepoint triggers macro contagion

The crypto market turbulence is merely a symptom of a broader macroeconomic shockwave emanating from the Middle East. Global risk sentiment fractured following a weekend of American military strikes against Iranian installations.

The conflict currently centers almost entirely on the Strait of Hormuz, a crucial maritime artery that carries roughly a fifth of all global seaborne crude oil.

The waterway’s operational status remains heavily contested, creating a fog of uncertainty that energy markets traditionally despise.

On X (formerly Twitter), the US Central Command confirmed that it deployed fighter aircraft, naval vessels, and autonomous sea drones to neutralize coastal radar networks, air defense systems, and missile launch capabilities.

The American military leadership also insisted that the corridor remains open for lawful commercial navigation and characterized the recent engagements as a necessary measure to protect civilian mariners from unprovoked hostilities.

It added:

“The Strait of Hormuz is a vital maritime corridor for global trade. Iran does not control it. U.S. forces are postured and prepared to ensure that freedom of navigation remains available to commercial shipping despite Iran’s continued unwarranted aggression, harassment, threats, and arbitrary declarations.”

However, Iranian authorities vehemently disputed that narrative, claiming the strait is entirely closed to international shipping.

The diplomatic rhetoric has sharpened dramatically, with Iranian Parliament Speaker MB Ghalibaf stating that the “era of one-sided deals is over” and warning that the passage will only operate under strict Iranian administrative arrangements, firmly rebuffing any American transit ultimatums.

A prolonged closure would leave exporters with limited pipeline capacity to bypass the strait, tightening oil supply and raising freight and insurance costs.

On Polymarket, traders are pricing in only a 3% chance that traffic will meet the contract’s recovery threshold by July 31. The market resolves “Yes” if IMF PortWatch reports a seven-day moving average of at least 60 vessel calls on any date through July 31; otherwise, it resolves “No.” The contract had recorded more than $16 million in volume as of press time.

Chances of Strait of Hormuz Traffic Returning to Normal (Source: Polymarket)

Oil shock revives interest-rate risk

The maritime standoff pushed oil prices higher, with Brent crude gaining as much as 4% and approaching $80 a barrel.

The increase revived concern that elevated energy costs could keep inflation above the Federal Reserve’s target and delay any shift toward lower interest rates.

For Bitcoin traders, the immediate risk is therefore not only an expansion of the conflict but also the possibility that sustained increases in oil prices alter the outlook for US monetary policy.

Higher crude prices can feed into transportation, manufacturing and consumer costs. If those pressures persist, the Fed may have less room to cut rates and could face greater pressure to tighten policy further.

Higher yields also increase the opportunity cost of holding assets that produce no income, including Bitcoin and gold, while supporting demand for the dollar and government debt.