According to CoinMeta, affected by the renewed escalation of tensions between the United States and Iran, market sentiment is weak, and the cost of high-yield credit default protection in the eurozone has risen to its highest level in over five months. U.S. President Donald Trump rejected Iran's proposal to reopen the Strait of Hormuz, sparking concerns that disruptions to oil supply could last longer than expected. Brent crude oil prices rose by 3.7% to $108.18 per barrel. Data from S&P Global Markets Intelligence shows that the itraxx European Cross Index (Euro High-Yield Credit Default Swaps) increased by 1 basis point to 298 basis points, reaching its highest level since April 8.