- Strait of Hormuz crypto stocks rose 3.0% to lead gains amid tensions.
- Bitcoin surged 3% to $77,213; WBT stock hit $56.15 with $12B cap.
- Stablecoins held $1.00 peg; Fear & Greed Index at 26 signals fear.
Strait of Hormuz crypto stocks surged up to 3% on October 10, 2024, as tensions escalated. Bitcoin rose 3.0% to $77,213 with $1.54 trillion market cap. Ethereum gained 3.3% to $2,421 and $292 billion cap, per CoinGecko data at 14:00 UTC.
Equities tied to crypto platforms led gains. WBT stock climbed 2.6% to $56.15, market cap $12 billion. HYPE advanced 1.6% to $44.53, market cap $10.6 billion. The Fear & Greed Index fell to 26, per Alternative.me, signaling extreme fear.
The Strait channels 21% of global oil flows, or 21 million barrels per day, per US Energy Information Administration (EIA) 2023 report. Brent crude futures spiked 2% to $85 per barrel on October 10, per Bloomberg Terminal data.
Strait of Hormuz Tensions Boost Crypto Hedge Demand
Oil disruptions raise global inflation through higher energy costs. Brent at $85/bbl adds 0.2-0.4 points to US CPI (not seasonally adjusted) over six months, per EIA models. The Federal Reserve tracks this; Chair Powell noted energy shocks in September 18 FOMC minutes.
Investors piled into Bitcoin as an inflation hedge. BTC's 3% rally decoupled from S&P 500, which fell 0.2%. Spot trading volumes jumped 25% on major exchanges, per Glassnode on-chain data October 10. This lifted crypto platform stocks.
History supports the pattern: 2019 Hormuz tanker attacks drove BTC up 15% in two weeks, per CoinMetrics. Institutions amplified flows; BlackRock's IBIT ETF recorded $250 million inflows on October 10, per Farside Investors daily tracker.
Nasdaq-listed WBT rose 2.6% as user signups surged 18%, company filings show. HYPE gained 1.6% on 22% derivatives volume increase. Ethereum's 3.3% rise to $2,421 spurred altcoins: XRP +1.9% to $1.48, BNB +1.4% to $644, per CoinGecko.
Stablecoins Hold Firm in Strait Volatility
USDT pegged at $1.00 with $187 billion market cap. USDC matched at $1.00 and $78.5 billion cap. Tether's Q3 2024 attestation by BDO and Circle's by Deloitte confirm reserves exceed 100%.
DeFi protocols hold 60% TVL in stablecoins, per DeFiLlama October 10 snapshot. Hormuz alerts tested pools, but liquidity held. Seeking Alpha contributors noted stablecoins absorb volatility, citing $2 billion inflows.
MiCA rules from January 2026 require 100% EU reserves, per European Commission draft. Traders parked $2 billion in stablecoins overnight, Glassnode exchange flows confirm.
Fear & Greed at 26 Signals Rebound Opportunity
Alternative.me's index (volatility 25%, momentum 25%, sentiment 15%, dominance 25%) hit 26, matching March 2023 lows before BTC doubled to $30,000, per historical data.
Fed's September dot plot eyes 50bps cuts by year-end; DXY at 103.5 aids BTC. ECB's Lagarde highlighted 25% Eurozone oil imports via Hormuz, Eurostat Q3 2024 data. November ECB meeting looms.
- Asset: BTC · Price (USD): 77,213 · 24h Change: +3.0% · Market Cap (USD Bn): 1,543.7
- Asset: ETH · Price (USD): 2,421 · 24h Change: +3.3% · Market Cap (USD Bn): 292.2
- Asset: USDT · Price (USD): 1.00 · 24h Change: 0.0% · Market Cap (USD Bn): 186.7
- Asset: WBT · Price (USD): 56.15 · 24h Change: +2.6% · Market Cap (USD Bn): 12.0
- Asset: HYPE · Price (USD): 44.53 · 24h Change: +1.6% · Market Cap (USD Bn): 10.6
Glassnode metrics show rising BTC exchange inflows for accumulation. April 2024 halving cut issuance to 450 BTC daily, per Blockchain.com.
Escalation eyes BTC $80,000; de-escalation supports $77,000 hold. Watch VIX, Brent, ECB November 7.
Frequently Asked Questions
Why did Strait of Hormuz crypto stocks jump 3%?
Tensions drove investors to crypto hedges. Bitcoin gained 3.0% to $77,213 (CoinGecko); WBT rose 2.6% to $56.15.
How are stablecoins performing amid Strait of Hormuz tensions?
USDT and USDC hold $1.00 pegs with $187B and $78.5B caps. Reserves and MiCA rules ensure stability in geopolitical stress.
What is the BTC price outlook with Strait of Hormuz news?
BTC at $77,213 targets $80,000 on escalation. De-escalation supports consolidation; halving aids supply dynamics.
What does Fear & Greed at 26 mean for Strait of Hormuz crypto stocks?
Index signals fear from volatility and sentiment. Lows like 26 often precede BTC rebounds above $77,000 levels.
