Why Is Crypto Crashing? Bitcoin, XRP, Ethereum, and Solana All Down This Week

The expiry alone would have been rough, but it coincided with the worst stretch of the Iran-Israel war for financial markets. Iran threatened to block the Bab el-Mandeb Strait—the Red Sea gateway that carries 12% of global seaborne oil—on top of the Strait of Hormuz, which has been effectively closed since late February. Oil pushed above $103, and the gold-to-crypto rotation that had been helping Bitcoin recover earlier in March reversed completely. Bitcoin ETF outflows hit $171 million on March 26, and Eth ...