The Bitcoin market experienced extreme volatility under the dual impact of favorable macroeconomic data and a sudden geopolitical crisis, according to Woofun AI.

Weak U.S. employment data should have boosted risk assets, but Iran's military actions in the Strait of Hormuz quickly reversed market sentiment, causing Bitcoin's price to fall sharply from its highs and resulting in a single-day market capitalization swing of up to $50 billion.

This dramatic fluctuation, driven by both fundamental expectations and a black swan event, highlights the current high sensitivity of crypto assets to global geopolitical situations.

On Friday, October 1, Bitcoin opened at $84,000.

As disappointing U.S. employment data was released, the market interpreted it as a reduced probability of Federal Reserve rate hikes, and this macroeconomic tailwind quickly pushed Bitcoin's price back up, briefly approaching the key resistance level of $87,000.

However, this upward momentum did not last, and the closing price ended up roughly flat with the opening price.

Data from Binance showed that after hitting highs on September 22 and 23, Bitcoin encountered strong resistance near $87,000 for the third time in two weeks.

Woofun AI's compiled data indicates that although the macroeconomic backdrop provided some support, the sudden eruption of geopolitical risk prevented bulls from effectively breaking through this psychological threshold, causing the price to return to its starting point after intense tug-of-war at high levels, with the single-day market cap fluctuation reaching $50 billion, reflecting the market's fragility amid heightened uncertainty.

The direct trigger for market panic was a tanker attack in the Strait of Hormuz.

The UK Maritime Trade Operations center, operated by the Royal Navy, issued a warning on Friday that a large tanker had been attacked.

The tanker's captain reported at 11:22 UTC that the vessel was hit by a projectile, causing a small fire and a power outage, but the crew successfully extinguished the fire, the ship continued sailing, and there were no casualties or environmental pollution.

This was the sixth attack in the strait that week.

Notably, a day earlier, the Kuwaiti-flagged supertanker "Al-Qiyama III" also caught fire in a similar attack.

At least 16 attacks on vessels occurred in the strait in September.

Although officials did not disclose the attackers' identity, numerous posts on X blamed Iran, and authorities are conducting an investigation.

These series of events indicate that the security situation in the Strait of Hormuz is deteriorating rapidly, directly impacting the stability of the global energy transportation corridor.

In contrast, the crude oil market performed relatively calmly, with U.S. spot crude oil prices holding around $93.70 and Brent spot crude oil prices around $106.30, with the latest trading gains both less than 0.25%.

Earlier on Friday, Brent crude futures had fallen 2.89% to $99.35, a decline driven by reports that EU and International Energy Agency member states were considering releasing reserves.

Daniel Richards, a senior economist at Emirates NBD Bank, pointed out that the additional U.S. military forces in the region are keeping the risk premium persistent.

Washington has dispatched two more Patriot missile systems to Saudi Arabia and Qatar, and an aircraft carrier strike group is being moved to the region.

President Donald Trump also stated he is considering another round of bombing, a threat that has persisted for weeks.

With the Strait of Hormuz remaining in a dangerous state, traders face a severe test: whether Bitcoin can hold its ground before the $87,000 mark depends on whether the geopolitical situation will further escalate.