Daily Digest — 9 Apr 2026

The fragile Iran ceasefire collapsed within 48 hours as Tehran accused the US of breaching three key clauses, sending oil prices surging 3.6% toward \(97 and keeping the Strait of Hormuz effectively closed despite the peace deal. [Bitcoin tumbled below \)71,000](https://www.coindesk.com/markets/2026/04/09/bitcoin-under-usd71-000-eth-sol-xrp-drop-as-iran-ceasefire-frays-within-48-hours-of-being-signed) alongside broader crypto selloffs as geopolitical tensions flared, while Asian economies face mounting pressure from the energy shock — though analysts suggest a repeat of the 1997 crisis remains unlikely given stronger foreign reserves.

The diplomatic fallout deepened as Trump criticised NATO after a “very frank” meeting with alliance chief Rutte, saying NATO “wasn’t there when we needed them” during the Iran conflict. Meanwhile, UK Prime Minister Starmer met Saudi Crown Prince Mohammed bin Salman pledging British support to reopen the vital waterway, as regional allies increasingly view London as more reliable than Washington under Trump’s volatile leadership.

In crypto markets, institutional adoption continued despite the geopolitical turmoil, with Morgan Stanley’s new bitcoin ETF drawing $34 million on its debut day. The sector also saw technical progress as Lightning Labs unveiled a quantum-resistant wallet prototype that could prevent millions of wallets from being frozen under future security upgrades. Gold retreated 0.7% to $4,744 as investors parsed the mixed signals from Middle East peace efforts and ongoing supply disruptions.