Amid escalating tensions between Iran, Israel, and the United States, concerns have circulated on cryptocurrency social media that Iran may block the strategically important Strait of Hormuz, causing market volatility and a temporary dip in Bitcoin prices below $63,000. Although blocking the strait could lead to soaring oil prices and inflation, analysts believe that such a move is geographically difficult to implement and not in Iran's best interest, as OPEC and the US could compensate for supply disruptions. However, ongoing conflicts could further heighten risk aversion and potentially test the $60,000 support level for Bitcoin.