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Analysts warn that sustained energy price shocks could tighten financial conditions and weaken investor appetite for volatile assets such as Bitcoin.
Research published by CryptoQuant notes that oil prices have surged more than 60% since the start of the year as geopolitical risks have intensified around the strategic waterway.
The Strait of Hormuz carries roughly 20% of global daily oil exports and nearly 35% of seaborne crude shipments. Any disruption to that corridor immediately influences energy markets, pushing prices higher and raising the likelihood of inflationary pressure across the global economy.
Market data cited by The Block illustrates how quickly those pressures can filter into Bitcoin prices. Bitcoin fell 1.87% yesterday to around $69,610 after briefly rallying earlier in the week. The decline pushes the asset roughly 10% below its March 5 peak near $73,500.



 Market watchers say the move aligns with earlier assessments that the recent rally was more of a relief bounce than the start of a new bull cycle.
The sell-off coincided with a sharp surge in crude prices, which climbed above $110 per barrel amid the Middle East conflict. According to Trading Economics data, oil rose 22% in a single day and about 72% over the past month.
The price shock has also hit global equities, with Japan’s Nikkei dropping 7%, South Korea’s KOSPI falling 7.9%, Hong Kong’s Hang Seng declining 2.7%, and the Shanghai Composite sliding 1.4%.
Mike McGlone of Bloomberg Intelligence noted that if front-month WTI crude were to mirror the 100% gain seen in natural gas earlier in 2026, prices could reach around $115 per barrel. However, he cautioned that such spikes often correct themselves as higher prices eventually dampen demand.
Meanwhile, crypto markets are also facing structural pressures. Bitcoin exchange-traded funds recorded $576.6 million in combined outflows over two recent trading sessions, adding to downward momentum.
Analysts at Zeus Research say Bitcoin’s immediate support sits near $65,000, with the $68,000-$69,000 range a key resistance level. They note that renewed ETF inflows, clearer regulatory frameworks, and improved macro liquidity could eventually restore bullish sentiment.
