This Tuesday, April 7, 2026, the price of Bitcoin (BTC) fell after an explosion was reported on Kharg Island in the Persian Gulf.
Bitcoin, which was trading near $69,000 a few hours earlier, quickly succumbed to the impact this news had on global markets.
The following graph shows Bitcoin’s performance over the past 24 hours.
Explosions add maximum tension to the scenario. Kharg Island is Iran’s main oil export center.
Kharg IslandLocated in the Persian Gulf, just 25 kilometers from the coast of Iran, It is a fundamental pillar of the country’s economyBecause it controls about 90% of crude oil exports.
The island is home to three major energy infrastructures, including Farat Iranian Oil Company and Kharg Petrochemical Company, which produce 500,000 barrels of crude oil per day. Its storage capacity is approximately 30 million barrels. Damage to oil infrastructure would not only affect Iran, but would immediately shake up global energy markets.
And the context for this attack is explosive, both literally and figuratively. As reported by CriptoNoticias this morning, market is waiting for expirationscheduled for Wednesday at 8pm Washington time. President Donald Trump’s ultimatum to Iran to reopen the Strait of Hormuz. A new explosion at Karg adds another element of uncertainty to the already loaded equations.
If the conflict escalates and Kharg’s oil infrastructure is damaged, the impact on oil prices and the rebound effect on Bitcoin could be severe. Technical analysis points out that: If the scenario worsens further, $60,000 is the first relevant support for Bitcoin price.
