According to The Kobeissi Letter, ships preparing to cross the Strait of Hormuz executed a 180-degree U-turn at approximately 9:15 AM ET, just minutes after Iran's parliament approved closing the strait (source: The Kobeissi Letter, June 22, 2025). This unprecedented maritime disruption is anticipated to drive significant volatility in global oil markets, which historically correlates with sharp price swings in major cryptocurrencies such as BTC and ETH due to increased demand for alternative assets during geopolitical crises. Traders should closely monitor crypto market liquidity and volatility indices in response to further developments.