Week Ten of the Conflict. Crypto Is Still Standing.
The U.S.-Iran conflict has entered its tenth week with no resolution in sight. A tanker was struck by projectiles in the Strait of Hormuz after President Trump announced plans to escort ships through the waterway, and Iran warned it would target any U.S. forces entering the strait. Oil prices surged again on the news, and inflation fears continue to weigh on markets heading into a new week.
Against that backdrop, Bitcoin briefly crossed $80,000 USD on Monday morning before pulling back into the $78,000 range. Despite the week’s pressure, Bitcoin is up over 17% in the past month and Ethereum has gained over 13% in the same period. These are not the numbers of an asset class in collapse. They are the numbers of an asset class absorbing one of the largest geopolitical shocks on record.
As crypto legislation continues moving toward the U.S. Senate floor and institutional demand holds firm, the structural foundation of this market looks increasingly different from prior cycles.
RapidEX is here to help you stay active and informed through all of it, with simple funding, real human support, and access to your digital assets at 100+ Canadian locations.
Market Intelligence & Action
Weekly Snapshot (Apr 27–May 4, 2026)
Crypto markets eased slightly this week as the U.S.-Iran conflict escalated with a tanker strike in the Strait of Hormuz and fresh warnings from Tehran. Bitcoin briefly touched $80,000 USD before pulling back, while Ethereum held relatively steady. Gold and silver both softened as a stronger U.S. dollar and ceasefire skepticism reduced safe-haven urgency in precious metals, even as oil prices climbed.
| Asset | Week Open (CAD) | Current Level (CAD) | 7-Day Trend |
|---|---|---|---|
| Bitcoin (BTC | $107,000 | $104,700 | -2.1% |
| Ethereum (ETH) | $3,240 | $3,230 | -0.3% |
| Litecoin (LTC) | $77 | $77 | 0.0% |
| USD Coin (USDC) | $1.37 | $1.36 | 0.0% |
| Gold (XAU/oz) | $6,364 | $6,270 | -1.5% |
| Silver (XAG.oz) | $105 | $102 | -2.9% |
This Week’s Updates
1. Macro: Strait of Hormuz Escalates as Fed Holds Rates Steady
The Federal Reserve held rates steady at its April 28-29 meeting, with outgoing Chair Jerome Powell citing persistent inflation driven by energy prices as the primary reason for continued caution. The decision was widely expected, but the tone of the statement reinforced that rate cuts in 2026 remain unlikely unless the Middle East situation resolves. Days later, a tanker was struck by projectiles near the Strait of Hormuz after Trump announced plans to escort commercial vessels through the waterway, prompting Iran to warn of direct retaliation against any U.S. military presence in the strait. Oil climbed above $100 a barrel again, keeping inflation expectations elevated heading into the week.
Pro Tip: Prolonged inflation environments have historically been supportive of hard assets. Investors who hold Bitcoin and gold through these cycles have often been better positioned than those holding cash waiting for clarity that rarely arrives on schedule.
2. Industry News: Crypto Resilience Holds as Legislation Advances
Despite a modest week-on-week pullback, Bitcoin is up over 17% in the past month, a performance that few traditional assets can match in the same period of macro turmoil. Crypto legislation in the United States continues to advance toward the Senate floor, with market participants watching closely for any formal regulatory framework that could further open the door to institutional allocation. Bitcoin dominance sits at 60.35%, reflecting continued preference for the largest and most liquid digital asset during uncertain times. In a separate industry development, April recorded the highest number of crypto hacks ever across the ecosystem, reinforcing why platform security, custody practices, and transacting through trusted providers remain critical considerations for every investor.
Market Insight: Ten weeks into a major geopolitical conflict, Bitcoin is still trading above $104,000 CAD. That is a data point worth noting. The market is telling investors something about where it sees long-term value, even when short-term noise is loudest.
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The RapidEX Knowledge Centre
Gas Fees: Why Does It Cost Money to Move Money?
You have just bought some crypto and then a fee appears just to move it somewhere. What is that, exactly? Gas fees are one of crypto’s most misunderstood concepts and once you understand them, you stop getting surprised by them and start transacting smarter.
What Is a Gas Fee. Think of a blockchain like a busy highway and your transaction like a car trying to merge onto it. Gas fees are the toll you pay to get on. When you send crypto or interact with a smart contract, validators process and confirm your transaction. Gas fees are what you pay them for that work. The term comes from Ethereum’s early days: just like a car needs fuel to move, a transaction needs gas to run.
Why Do Fees Go Up and Down? Gas fees are not fixed. They rise and fall based on network congestion. When many people are transacting at the same time, everyone bids higher fees to get processed faster, similar to surge pricing on a ride-share app. During quiet periods, fees drop. During peak activity, fees can sometimes exceed the value of what is being sent, which has historically been a genuine frustration on the Ethereum network.
Does Bitcoin Have Gas Fees? Sort of, but they are called transaction fees on the Bitcoin network and they work similarly. Bitcoin transaction fees tend to be more predictable and, for everyday transfers, often lower than Ethereum fees. It is one of the reasons Bitcoin remains a preferred choice for straightforward peer-to-peer payments.
The Practical Takeaway: Before sending any crypto, always check that the fee is reasonable relative to the amount being sent, check whether the network is busy at that moment (off-peak hours can mean lower fees), and confirm you are on the correct network for the token you are moving. Gas fees are a cost of a decentralized system with no single company running the show. Understanding them helps you transact with confidence.
The RapidEX View: When you buy through RapidEX and transfer directly to your own wallet, understanding gas fees helps you plan your moves and avoid unnecessary costs. Our team is here to walk you through it if you have questions, in person or by phone.
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