Crypto Market Crashes $20B as Trump Says US Is “Taking Over” Strait of Hormuz

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CryptoNewsNet2026/07/13 19:48

By:CryptoNewsNet

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Crypto Market Crashes $20B as Trump Says US Is “Taking Over” Strait of Hormuz

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Crypto Market Crashes $20B as Trump Says US Is “Taking Over” Strait of Hormuz image 1

President Donald Trump on Monday said the United States is “taking over” the Strait of Hormuz and countries “must pay” the US for defending. As a result, Brent crude oil prices extend gains above $79 per barrel, causing the crypto market and Bitcoin price to crash lower.

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The US military escort has opened the energy channel, but the daily charter rate for oil tankers is approaching $500,000. Although hostilities in the Middle East continue, shipping through the Strait of Hormuz has increased in recent days, with the US claiming its navy has escorted several tankers through the waterway. According to market intelligence firm Kpler, a total of 14 cargo ships traversed the Strait of Hormuz in both directions on Wednesday, and another crude oil supertanker has been booked to load cargo at a Persian Gulf port.

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Bitget•2026/07/31 01:48