Bitcoin and ether prices remain relatively stable as the U.S. escalates its military actions in Iran. The U.S. executed its third strike on Iran this week, prompting Tehran to reportedly close the Strait of Hormuz once again.

— Bitcoin is trading around $63,800, showing only minimal fluctuations despite the U.S. airstrikes and Iran’s announcement regarding the Strait of Hormuz.

— Other leading cryptocurrencies, such as ether, XRP, and dogecoin, also experienced negligible price changes, maintaining a subdued response to the ongoing tensions in the Middle East.

— With oil, stock, and bond markets closed for the weekend, bitcoin stands out as one of the few assets reflecting the recent developments in real time, with a more comprehensive response in crude oil anticipated when trading resumes on Monday.

Bitcoin remained close to $63,800 on Saturday following the U.S.’s third round of strikes against Iran and Tehran’s declaration of the Strait of Hormuz being closed «until further notice.» The leading cryptocurrency saw a 0.3% decline over the past 24 hours but is up 2% for the week.

Vessel-tracking data indicated some activity in the Strait of Hormuz during the early hours of Sunday in Asia, although the traffic levels were significantly below normal.

U.S. Central Command reported that President Trump ordered the strikes aimed at crippling Iran’s capability to target commercial ships after Iranian forces attacked a Cyprus-flagged container vessel. Iranian state media disclosed explosions occurring along the southern coastline, notably affecting key energy locations such as Bushehr and Asalouyeh, as well as the port cities of Bandar Abbas and Bandar-e Dayyer.

Ether mirrored this lack of volatility, priced at around $1,800, and showing a 2% increase over the week. Solana was the most affected among major cryptocurrencies at $76, down 5% over the last week, while XRP fell to $1.09 and dogecoin dipped to approximately $0.07. Price movements for all these assets were only a fraction of a percent for the day.

This muted reaction appears to be the new normal. In March, when Iran initially closed the Strait of Hormuz, Brent crude oil soared past $100 a barrel for the first time in four years, eventually hitting nearly $120, while bitcoin faced significant sell-offs during each escalation.

This response is likely a result of timing; with oil, equities, and bonds closed over the weekend, bitcoin is currently the only major market able to reflect the real-time impact of the strikes, treating them almost as a non-event.

A more extensive reaction across different asset classes, especially in crude oil, might only emerge when trading resumes on Monday. Approximately one-fifth of the world’s seaborne oil traffic transits through the Strait of Hormuz, and Brent had already incorporated a risk premium heading into the weekend as tanker movements remained below normal levels.

The real challenge will arise on Monday if crude oil opens with a significant gap up while bitcoin maintains its position. A stable opening in oil would suggest that the closure of the strait is perceived as a threat that Tehran has previously issued and subsequently retracted.