Last night, geopolitics stirred things up again! The U.S. Navy has locked down the Strait of Hormuz, and Iran’s oil has basically been shut down. Oil prices jumped sharply, and LNG followed suit.
This round of events has a pretty clear impact on crypto. As $BTC is considered a safe-haven asset, geopolitical tension usually provides support. At the same time, rising energy prices also affect mining costs.
Ukraine also hit Russian refineries, so now Russia’s domestic gasoline supply will be short again. The whole macro environment is full of uncertainty.
Risk assets may see volatility—so be cautious with your actions.
#Bitcoin #Crypto #Macro #Trading #News
NFA DYOR
This round of events has a pretty clear impact on crypto. As $BTC is considered a safe-haven asset, geopolitical tension usually provides support. At the same time, rising energy prices also affect mining costs.
Ukraine also hit Russian refineries, so now Russia’s domestic gasoline supply will be short again. The whole macro environment is full of uncertainty.
Risk assets may see volatility—so be cautious with your actions.
#Bitcoin #Crypto #Macro #Trading #News
NFA DYOR