Bitcoin and Ethereum experienced volatility following a weekend airstrike by Israel and the U.S. on Iran, which led to a sell-off in risk assets. Bitcoin dropped to a low of $63,000 before rebounding to approximately $67,000, while Ethereum touched a low of $1,910. Last week, ETFs saw over $1 billion in net inflows, ending a five-week outflow streak, although institutional OTC trading remains subdued. Market analysis suggests that geopolitical risks have been priced in, and if the conflict is controlled, prices may mimic last June's pattern of a brief dip followed by a rebound. However, a prolonged closure of the Strait of Hormuz could elevate energy prices, increase inflation, delay Federal Reserve rate cuts, and pressure risk assets and cryptocurrencies.