EL7.AI
GeopoliticsHigh ImpactUpdated×25•Originally published 15 April 2026•Updated 17 April 2026•
1 min read

Hormuz Traffic Resumes Cautiously as Iran Demands Bitcoin Tolls

Key Facts

1The Chinese-owned, U.S.-sanctioned tanker 'Rich Starry' successfully transited the Strait of Hormuz, marking the first known breach of the U.S. naval blockade.
2WTI crude oil prices surged to $90 per barrel following news of the blockade breach.

Bitcoin prices hit a record $78,000 after Iran declared the Strait of Hormuz fully open, while XRP prices also surged in tandem with the broader rally. This momentum pushed the total crypto market capitalization up by 3.79% in 24 hours, reaching nearly $2.77 trillion. Vessel tracking data confirmed at least eight crude tankers advancing toward the Strait following a ceasefire agreement, though analysts remain cautious about the truce's stability. Market sentiment improved as Polymarket odds for normalized traffic by May climbed to 73%. While a 10% drop in Brent crude prices bolstered global equities, President Trump clarified that the U.S. naval blockade remains in effect for Iran-aligned vessels, leaving investors to weigh the sustainability of these new financial arrangements.