Iran's closure of the Strait of Hormuz, part of escalating U.S.-Iran tensions under Operation Economic Fury, is weighing on global markets, including crypto. Despite the geopolitical shockwave and a $605 million outflow, Bitcoin has held its ground between $65,000 and $75,000.
Market sentiment on Polymarket shows a slight dip in confidence, with Bitcoin's May 1 and May 2 contracts pricing a 99.9% chance of remaining above $68,000, down from 100% last week. Analysts point to institutional strategies as a key buffer against volatility, but warn that regulatory uncertainty and a hawkish Federal Reserve could soon test that resilience. The coming days will hinge on any shifts in U.S.-Iran relations and Fed policy signals.