Bitcoin (BTC) slipped toward $65,500 on Thursday after the Houthis claimed drone and missile strikes on two Saudi oil tankers, lifting crude to $88.60.
Key Points
- Houthi forces said they targeted the tankers Encelia and Layla, days after declaring a naval blockade on Saudi Arabia.
- West Texas Intermediate futures climbed to $88.60 a barrel, the highest level since Jun. 11.
- Bitcoin fell about 0.7% since midnight UTC, while Ether, Solana and XRP also traded lower.
Houthi Strikes Hit Saudi Oil Tankers
Houthi military spokesperson Yahya Saree said the group struck the vessels Encelia and Layla for violating a shipping ban its forces imposed on Jul. 20. Saudi authorities confirmed a fire at the bow of the Encelia and said the crew escaped unharmed.
That ban followed the worst fighting Yemen has seen in four years, after the Yemeni government bombed Sanaa airport to stop an Iranian plane from landing.
The United Kingdom Maritime Trade Operations reported that an unknown projectile hit a Saudi tanker about 130 kilometers from the coastal town of Al Shuqaiq, where crew fought a blaze on board.
U.S. Central Command said American forces had completed a 12th consecutive round of strikes against Iran, and sent a long range B-1 bomber on Tuesday against Islamic Revolutionary Guard Corps targets. These were the first tanker attacks since the blockade took effect.
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Oil Rally Pressures Crypto Markets
West Texas Intermediate futures climbed to $88.60 a barrel, the highest level since Jun. 11, extending a steep rebound from recent lows under $70. The move signals a fresh inflationary impulse that complicates central bank rate cuts. Bitcoin changed hands near $65,500, retreating from a high around $66,700 reached Wednesday.
Bond markets reacted as well, with the two-year Treasury yield reaching 4.31%, its highest since February 2025, and the 10-year climbing to 4.66%. Higher yields raise the opportunity cost of holding assets that pay no income, which often pushes investors toward fixed income instead.
Ethereum (ETH), Solana (SOL) and XRP (XRP) followed Bitcoin lower. Spot Bitcoin funds still drew $68.99 million in net inflows on Wednesday, a seventh straight positive session.
Traders on Polymarket cut the implied odds of the Clarity Act passing this year from 46% to 38%, after Senate Democrats faulted the newest draft on ethics provisions.
Red Sea Route Faces A Familiar Threat
The Houthis began attacking ships near the Bab al-Mandeb strait in October 2023 and disrupted global commerce for two years, standing down only after the Gaza ceasefire in October 2025. Saudi Arabia had since moved millions of barrels a day through Red Sea ports to bypass the Strait of Hormuz, a workaround that naval analysts flagged as exposed days before this week's strikes.
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