- Fear & Greed Index hits 12 amid Hormuz tensions, signaling extreme fear.
- Bitcoin price stands at $73,492 after 8% intraday drop from $80,000 peak.
- Oil futures climb 12% to $92 per barrel on supply disruption fears.
By Fatima Hassan
April 13, 2026
On April 13, 2026, the Trump Strait of Hormuz blockade crashed Bitcoin to $73,492 amid extreme risk-off sentiment in Gulf financial markets. President Donald Trump ordered the action citing Iranian threats.
- Fear & Greed Index hits 12 amid Hormuz tensions, signaling extreme fear.
- Bitcoin reaches $73,492 after 8% intraday drop from $80,000 peak.
- Oil futures surge 12% to $92 per barrel (USD) on supply disruption fears.
Trump Strait of Hormuz Blockade Halts Key Oil Flows
US Central Command deploys two carrier strike groups to the Strait of Hormuz. Trump cites Iranian drone attacks on Saudi facilities. The blockade halts 20% of global oil through the 33km-wide chokepoint.
Saudi Aramco suspends exports from east coast terminals. Bloomberg reports 5.5 million barrels per day (bpd) at risk. UAE's ADNOC diverts cargoes to Fujairah port to bypass the disruption.
GCC economies brace for immediate shocks. Saudi Arabia's Public Investment Fund (PIF), the kingdom's key Vision 2030 vehicle, manages over $200 billion (USD) in energy-linked assets, per its latest filings.
Oil Prices Jump 12% to $92/Barrel
Brent crude futures climb 12% to $92 per barrel (USD) by 1400 GMT. WTI rises 11% to $88 per barrel (USD). Ellen R. Wald, President at Transversal Consulting, states, "This blockade could add $20 per barrel if it sustains beyond 72 hours."
Gulf producers face $2.5 billion (USD) daily losses from halted flows. PIF's total $925 billion (USD) assets under management (AUM) include a 15% stake in Aramco. Mubadala Investment Company, Abu Dhabi's strategic investor, holds $300 billion (USD) portfolio with ADNOC bonds yielding 4.2%.
QatarEnergy reroutes 77 million tonnes of annual LNG cargoes via alternative paths. Saudi non-oil GDP target slips toward 52% for 2026 as diversification efforts strain under energy shocks.
Bitcoin Dives in Risk-Off Flight to Safety
Traders dump Bitcoin 8% intraday to $73,492 from $80,000 peak, though up 3.7% daily per CoinGecko. Ethereum falls to $2,272, up 3.5% on the day.
Fear & Greed Index plunges to 12 in the extreme fear zone. Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, notes, "Crypto now mirrors oil volatility in this Hormuz shock. Bitcoin's 30-day correlation to Brent crude hits 0.65."
On-chain data reveals $1.2 billion (USD) BTC outflows from exchanges yesterday. Whale wallets transfer 15,000 BTC to cold storage, according to Glassnode metrics. GCC investors watch closely as crypto ties deepen to regional energy markets.
GCC Sovereign Funds Ramp Up Hedging Strategies
Saudi PIF sells $3 billion (USD) in energy derivatives today to lock in gains. Abu Dhabi Investment Authority (ADIA) raises gold allocation by 5% to 12% of its $993 billion (USD) AUM. Qatar Investment Authority (QIA) shifts $2 billion (USD) to US Treasuries yielding 4.8%.
Real estate markets soften under pressure. Dubai office vacancy climbs to 18%, with prices dropping 3% to $45 per sq ft (AED equivalent). Riyadh property yields compress to 6.2% amid safe-haven demand from locals.
Saudi Vision 2030 encounters fresh headwinds. NEOM megacity's $500 billion (USD) budget relies on oil at $80 per barrel. Prolonged Trump Strait of Hormuz blockade risks a $50 billion (USD) annual revenue shortfall for Riyadh.
Crypto Volumes Spike Amid Gulf Energy Ties
Bitcoin 24-hour trading volume surges to $45 billion (USD), up 40%. Perpetual futures funding rates turn negative at -0.02%, boosting short positions. ETH/BTC ratio slips to 0.031 as risk aversion spreads.
Noelle Acheson, Crypto Advisor and former Bloomberg head, warns, "Hormuz risks amplify Bitcoin's equity beta by 1.5x. A prolonged blockade sends BTC sub-$60,000." Glassnode data shows fear extremes often precede 20% drawdowns.
Gulf regulators respond swiftly to volatility. Dubai's VARA (Virtual Assets Regulatory Authority) approves three new stablecoin-based hedges for local traders. Abu Dhabi Global Market (ADGM) launches a $100 million (USD) risk-off fund targeting tokenized treasuries.
Sovereign Wealth Funds Face Energy Exposure
| Fund | AUM (USD) | Energy % | Hedge Action |
|---|---|---|---|
| PIF | 925B | 22% | $3B derivatives |
| ADIA | 993B | 18% | +5% gold |
| Mubadala | 300B | 25% | ADNOC bonds hold |
| QIA | 475B | 19% | $2B Treasuries |
PIF commits $1.5 billion (USD) to US data centers before the blockade. Riyadh's Fox Hills project maintains 92% occupancy despite jitters.
Forward Risks from Trump Strait of Hormuz Blockade
Oil at $92 per barrel tests Gulf budgets. Saudi fiscal breakeven rises to $85 per barrel (USD), while UAE sustains 4.2% GDP surplus through diversification.
Bitcoin holds at $73,492 above the bull support at $65,000. Upcoming US-Iran talks on April 20 will determine the Trump Strait of Hormuz blockade's duration and broader GCC market recovery.
