EL7.AI
GeopoliticsHigh ImpactUpdated×3•Originally published 13 April 2026•Updated 13 April 2026•
1 min read

US Blockade of Strait of Hormuz Sends Oil Surging; Crypto Markets Face Volatility

Key Facts

1The US has imposed a blockade on the Strait of Hormuz, leading to a surge in oil prices.
2Bitcoin price held above $70,700, while altcoins like Ethereum and DOT experienced declines.
3RAVEDAO soared by 130% despite a general 0.9% decline in the global crypto market cap.

The United States has imposed a blockade on the Strait of Hormuz, a critical global energy corridor, triggering an immediate surge in international oil prices. This geopolitical escalation has sent shockwaves through financial markets, causing significant volatility across the cryptocurrency sector. While Bitcoin (BTC) demonstrated resilience by holding its position above the $70,700 level, the broader altcoin market faced downward pressure. Major assets such as Ethereum (ETH) and Polkadot (DOT) recorded declines as the global crypto market capitalization slipped by 0.9%. In a notable divergence, the RAVEDAO token witnessed an exceptional rally of 130% despite the prevailing risk-off sentiment. Investors remain on high alert as the blockade threatens global supply chains and heightens regional tensions.