US-Israel Land Blockade Plan Sinks Bitcoin Below $64K Amid Oil Price Spike

Bitcoin's price fell below $64K on Friday as oil prices surged above $85 per barrel amid escalating tensions in the Middle East. The US and Israel are considering a land blockade of Iran to increase economic pressure, according to reports.

The idea would involve diplomatic pushes on neighboring countries such as Iraq, Pakistan, Turkey, Turkmenistan, Afghanistan, Armenia, and Azerbaijan to restrict or close border crossings, limiting Iran's imports and exports.

Iran has responded by claiming the Strait of Hormuz is closed, and any passage will require coordination with Iranian naval forces. Meanwhile, Saudi Arabia is reportedly preparing a major offensive against Houthi rebels in Yemen.