Iran Threatens to Close the Strait of Hormuz, Sparking Market Volatility

BlockBeats News, April 17th: Iranian Foreign Minister announced the opening of the Strait of Hormuz to shipping, causing significant market volatility. Spot gold continued to rise, surpassing $1,840 and recording a more than 1% intraday gain. Spot silver surged by nearly 4% intraday, currently trading at $81.30 per ounce. Both WTI and Brent crude oil experienced a brief plunge, with WTI crude oil plunging 8% intraday and Brent crude oil plummeting 7%. The U.S. Dollar Index (DXY) saw a sudden drop of over 20 points, now at 97.98, leading to a broad-based rally in non-dollar currencies.

Turning to the cryptocurrency market, Bitcoin made a recovery, breaking through $76,000, while Ethereum approached the $2,400 level.