Iran’s Persian Gulf waterway authority has announced that the Strait of Hormuz is reopening as of today under a 60-day framework jointly agreed with Washington. The decision, which follows a conflict between the US and Iran that began on February 28, signals a temporary easing of one of the key geopolitical risks clouding global markets. For the cryptocurrency sector, the reopening is notable more for the potential relief it brings to existing macroeconomic pressures than for any direct market boost.