The Strait of Hormuz has been hit again—oil tankers have been attacked one after another, and Brent crude has directly broken through $90.
Risk-averse sentiment is becoming obvious; $BTC hasn’t been doing well these days. Fighting is going on in the Middle East, and funds are starting to be cautious again.
Right now, only about 4 million barrels of oil pass through the Strait of Hormuz each day, whereas at the end of June it was 15 million barrels. The gap is far too big. US oil prices have also climbed back above $4, and inflation is likely to pick up again.
Geopolitical events are the least predictable—when fighting breaks out, everyone is uncomfortable. $ETH these risky assets are likely to keep falling for a while.
#Crypto #BTC #Macro #Geopolitics #NFA
NFA DYOR
Risk-averse sentiment is becoming obvious; $BTC hasn’t been doing well these days. Fighting is going on in the Middle East, and funds are starting to be cautious again.
Right now, only about 4 million barrels of oil pass through the Strait of Hormuz each day, whereas at the end of June it was 15 million barrels. The gap is far too big. US oil prices have also climbed back above $4, and inflation is likely to pick up again.
Geopolitical events are the least predictable—when fighting breaks out, everyone is uncomfortable. $ETH these risky assets are likely to keep falling for a while.
#Crypto #BTC #Macro #Geopolitics #NFA
NFA DYOR