Geopolitical Tensions Drive Oil Prices Up, Bitcoin Down

Reports indicate Iran has halted talks with the U.S. and threatened to block the Strait of Hormuz, a vital shipping lane. This development has led to a significant surge in crude oil prices, with Brent and WTI experiencing notable gains. Simultaneously, Bitcoin saw a sharp decline to a seven-week low, accompanied by substantial liquidations, partly attributed to market reactions and a prominent investor's sale.