Bitcoin Breaks Free: Crypto Stocks Defy Broader Market Sell-Off Amid Hormuz Tensions

Crypto-linked stocks defied the broader market sell-off on Monday as bitcoin held above $64,000, while tensions over Iran and the Strait of Hormuz weighed heavily on traditional markets.

The disconnect between crypto equities and major indexes produced a rare trading session. While investors dumped other speculative assets, they flocked to companies with significant exposure to cryptocurrency, such as Strategy and Coinbase Global.

Strategy, which holds an enormous bitcoin treasury, saw its shares jump roughly 5% to around $97.50, closely tied to the price of BTC. Other notable gainers included MARA Holdings, Circle Internet Group, and Bullish, which all advanced between 4% and 6%. However, not every crypto-linked name caught the bid, with Bitgo Holdings slipping about 1%.

The split emerged as President Donald Trump escalated tensions surrounding the Strait of Hormuz, telling Fox News journalist Trey Yingst that the U.S. would bomb Oman if the country interfered with Washington's efforts to secure an agreement with Iran over the waterway.