- Iran’s Supreme Leader Mojtaba Khamenei ordered enriched uranium to stay in the country.
- WTI crude rose above $100, and Brent crude traded around $108, while Bitcoin and crypto markets fell.
- BTC consolidated around $77,600 with heavy sell orders stacked at $78,800-$80,000.
Oil shot back above $100 a barrel after reports that Iran’s Supreme Leader ordered enriched uranium to stay in the country.
This stance is widely interpreted by traders as a hardening of Tehran’s position in ongoing nuclear negotiations and regional disputes, especially considering that the key US condition for ending the war was for Iran to get rid of its enriched uranium stockpile.
Crude oil had already been rising for weeks due to turmoil in the Middle East and concerns about prolonged supply disruptions. On May 21, WTI crude traded above $100, while Brent crude pushed a bit further, hovering around $108.
Trading Economics data shows crude up over 64% from a year ago, a sign of how much energy markets have repriced in 2026.
Analysts say the market is reacting not only to direct military conflict but also to the risk that negotiations between Iran and the U.S. could collapse, which could lead to even more disruptions around the Strait of Hormuz.
As Oil Rose, Bitcoin Fell
As oil rallied, Bitcoin and the broader crypto market tumbled. BTC briefly dipped to below $77,000, with traders pulling back from risky assets amid worries about inflation and a worsening macro picture.
KriptoHolder, a crypto analyst on X, shared a graph that shows BTC consolidating around $77,600 with heavy sell orders stacked from $78,800 to $80,000 blocking any move up, while the $75,000-$76,000 zone acts as a key support magnet likely to be tested first.
Other market analysts noted that rising oil prices typically strengthen expectations that central banks may keep interest rates higher for longer, which tends to weigh on risky assets like crypto and tech stocks.
This split between oil and Bitcoin has become a notable topic in the industry. When geopolitical tensions spike, energy and defense assets tend to win, while crypto keeps acting like a high‑risk tech stock rather than a traditional safe haven.
Related: Iran’s Supreme Leader Orders Near-Weapons-Grade Uranium to Stay
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