Bitcoin and Ethereum drop over 1% and 2% respectively amid escalating Middle East conflict and closed Strait of Hormuz.
Bitcoin (BTC-USD) opened at $63,788.52 on July 17, 2026, down 1.4% from the prior session, falling to $63,130.40 by 8:33 a.m. ET. Ethereum (ETH-USD) declined 2.8% to $1,832.29 after opening at $1,863.16, erasing recent gains above $1,900.
The pullback follows six consecutive days of U.S. airstrikes in Iran, dampening appetite for risk assets. Both cryptocurrencies remain above week-ago levels but have retreated to midweek valuations. Oil prices rose as the Strait of Hormuz remains effectively closed, amplifying geopolitical risks.
Bitcoin is up 0.9% over the past week but down 2.8% month-over-month and 46.3% year-over-year. Ethereum shows a 6.8% weekly gain, though it has slipped 44.7% from a year ago.