Cryptocurrency markets kicked off the week in negative territory as surging oil prices and ongoing geopolitical tensions weighed on investor sentiment.

Over the weekend, there were no meaningful signs of de-escalation in the conflict involving the United States and Iran. The uncertainty triggered a sharp move in energy markets during Sunday evening trading in the U.S., with April West Texas Intermediate (WTI) crude futures soaring 19.1% to $108.35 per barrel. The price is roughly double where crude stood at the start of 2026 and represents its highest level in about four years.

The spike in oil quickly spilled into broader financial markets. U.S. stock index futures dropped nearly 2% across the board, signaling a risk-off start to the week. In Asia, futures tied to Japan’s Nikkei 225 fell 3.1% shortly before Monday’s market open.

Digital assets were also under pressure. Bitcoin declined around 2%, trading just below the $66,000 level. Meanwhile, Ether and Solana each slipped about 1.4%.

Elsewhere in commodities, precious metals and copper were trading slightly lower, suggesting a more subdued reaction outside the sharp rally in oil.