Major cryptocurrency prices are rising across the board. Analysts say the drop in international oil prices following U.S. President Donald Trump's comment that he would "take control of the Strait of Hormuz" is driving the move.
As of 8:40 a.m. on the 10th, on the global coin tracking site CoinMarketCap, bitcoin is up 3.52% from 24 hours earlier at $68,619.
At one point, bitcoin climbed to $69,639, briefly reclaiming $69,000.
Ethereum is up 3% at $2,000, and XRP (Ripple) is up 1.43% at $1.36. Solana is also up 4.09% at $85.26.
Some analysts say the plunge in international oil prices led to a broad rally in cryptocurrency prices. West Texas Intermediate (WTI) futures, which had surged about 30% the previous day to $119, fell roughly 7% on the day.
This appears to reflect Trump's disclosure that he is considering taking control of the Strait of Hormuz, along with reports that major advanced economies are discussing releasing strategic reserves.