Just caught wind of what's shaking markets this morning. Tensions between the US and Iran escalated over the weekend, with Trump announcing a maritime blockade starting Monday—and that's sent crude oil futures absolutely flying. Brent and WTI both opened up 8% at the bell, while US stocks futures are trading down over 1%. The dollar strengthened past 0.4%, and here's the interesting part: precious metals like gold and silver are down more than 2%, which is unusual given the geopolitical risk typically pushes them higher.

Crypto's getting hit hard in the crossfire though. Bitcoin dropped below $71K early on, sitting around $76.5K now with a 1.77% gain over the past day, while Ethereum briefly touched $2,200 before settling around $2.32K with a small 0.68% uptick. Solana holding steady at $85.84. The broader market cap is down roughly 2.8% to around $2.49 trillion.

Some altcoins are bucking the trend though—Life tokens up 27%, ENJ up 21%, SOLV up 14%—but we're also seeing some heavy selloffs like TRU down 15.6%, PARTI down 12.7%, and DASH dropping 11%. Classic risk-off rotation happening. Worth keeping an eye on how this geopolitical situation develops and whether the oil rally can sustain.