Oil prices jumped more than 2% in intraday trading after Iran’s Revolutionary Guards fired on a U.S. airbase in retaliation for American strikes. Brent crude rebounded toward $98 per barrel.
The Strait of Hormuz, handling roughly 20% of global oil transportation, remains the critical chokepoint. Any disruption there sends ripple effects through every barrel priced globally.
Bitcoin fell sharply below $73,000 on May 28, 2026, triggering approximately $1 billion in liquidations across crypto markets. Privacy tokens ZEC and XMR dropped around 5%, while oil-linked perpetual futures on Hyperliquid surged over 5%.
HYPE tokens briefly overtook Dogecoin in market positioning as traders rotated into assets perceived as benefiting from the macro backdrop.