IBIT is trading 3.5% down today as escalating Iran tensions and surging oil prices trigger a broad market selloff.
- President Trump's warning of intensified strikes on Iran and the closure of the Strait of Hormuz have pushed oil above $108/barrel, fueling stagflation fears.
- Risk-off sentiment has hit major benchmarks, with S&P 500 and Nasdaq futures dropping 1.5% and 1.9% respectively.
- Bitcoin is currently trading near $66,500 as crypto assets face pressure from the macroeconomic downturn.