Crypto, stocks fall as oil chops after Iran vows response to Trump threat

Bitcoin and Asian markets dropped on Monday as Iran escalated threats to strike critical infrastructure in the Gulf.

Crypto and the wider markets tumbled on Monday as the US and Iran escalated threats toward one another for the fourth week, sending oil prices seesawing. 

US President Donald Trump posted to Truth Social on Sunday that the US would “hit and obliterate” Iranian power plants, “starting with the biggest one first,” if the country didn’t open the Strait of Hormuz within 48 hours.

Iran responded by saying it will answer any US strikes on its power or water infrastructure with attacks on US and Israeli assets in the Gulf and threatened to completely close the Strait, one of the world’s vital oil shipping lanes. 

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