Breaking news! The Strait of Hormuz is closed again! The Iranian Revolutionary Guard Navy commander makes another statement after his death; Bitcoin falls below $68,000.

On the 28th day of the strait blockade , the Iranian Revolutionary Guard Corps (IRGC) continued to threaten any ships attempting to pass. This morning, Israel unilaterally announced an airstrike that killed Alireza Tangsiri, the commander of the Iranian Islamic Revolutionary Guard Corps (IRGC) Navy.

Yesterday, March 26, Iranian Foreign Minister Araqchi announced that ships from five "friendly countries"—China, Russia, India, Iraq, and Pakistan—could safely pass through the Strait of Hormuz. In other words, the same strait is open to Iran's allies, while remaining closed to the United States and the West.

The threat of "burning to ashes" remains.

Since the IRGC announced the closure of the strait on February 28, the situation has not fundamentally changed. The words of IRGC Commander's advisor, Jabari, still echo in our ears: "The strait is closed. If anyone attempts to pass through, the Revolutionary Guard and the regular navy will burn those ships to ashes."

To date, 21 attacks on merchant ships have been confirmed. Tanker traffic has plummeted by over 70%, with more than 150 ships stranded outside the Strait of Hormuz. Brent crude oil prices surged from $100 before the blockade to a peak of $126 per barrel, an increase of more than a quarter.

On March 19, the US military attempted to open up the strait through military action, but with limited success. On March 25, Iran changed its tune, stating that "non-hostile" vessels could pass safely, and the following day submitted a list of five countries exempt from the strait.

Trump: Negotiations are progressing well, deadline extended to April 6th

Meanwhile, on March 26, Trump extended the deadline for his ultimatum to strike Iranian power plants to April 6, stating in his announcement that "negotiations are progressing well."

Since Trump threatened on March 23 at Truth Social to "destroy all Iranian power plants within 48 hours," the market has been on edge. The delay means that the worst-case scenario has been temporarily put on hold.

However, a diplomatic buffer does not equate to a solution. The Strait of Hormuz carries approximately one-fifth of the world's oil shipments, and global markets have shown a general correction in the past two days.

BTC falls below $68,000

Geopolitical conflicts have directly impacted the cryptocurrency market. Prices fell to around $67,600 on the afternoon of March 27th.

The market is currently awaiting the new deadline of April 6th. If negotiations with Iran break down and Trump escalates his threats again, the cryptocurrency market may face another wave of volatility. Only if the negotiations between the two sides achieve a breakthrough will funds likely flow back into risk assets.