Crypto markets dipped on Thursday, reversing some of the previous day’s gains as investors turned cautious again following a reported attack by Iran on an oil tanker.

Bitcoin (BTC) is trading at around $71,000, down 3.5% over the past 24 hours. Meanwhile, ETH and SOL fell 4% to about $2,060 and $88, respectively, and BNB is down 2% on the day.

The overall crypto market capitalization declined by 3% to $2.48 trillion, according to Coingecko.

U.S. crude oil (WTI) spiked above $79 after Iran claimed that it attacked an American oil tanker in the Persian Gulf. WTI is up more than 17% this week to its highest level since January 2025. Investor sentiment was also…