Over the past 48 hours, the most severe escalation of the year took place.
Iran fired ballistic missiles at two U.S. Navy warships—then the U.S. military immediately sank three Iranian oil tankers, including the M/T Kylo near the Strait of Hormuz.
Then Iran’s chief negotiator said something that made markets stop in their tracks:
"There will no longer be proportional responses."
This is the first time, in six months of conflict, that an official has explicitly said they are abandoning the principle of proportionality. Oil prices are facing intense upward pressure today.
Brent is currently around $88; a similar escalation previously pushed Brent to $100.88.
For BTC: the oil price shock → a jump in inflation expectations → the probability of a September rate hike rising further from 50% → pressure on non-yielding assets. BTC is around $80,000 today. Whether this level can hold depends on whether the situation worsens further tonight.
$80,000 is today’s most important support line.
$BTC
$CL
#美伊互袭油轮冲突升级
Iran fired ballistic missiles at two U.S. Navy warships—then the U.S. military immediately sank three Iranian oil tankers, including the M/T Kylo near the Strait of Hormuz.
Then Iran’s chief negotiator said something that made markets stop in their tracks:
"There will no longer be proportional responses."
This is the first time, in six months of conflict, that an official has explicitly said they are abandoning the principle of proportionality. Oil prices are facing intense upward pressure today.
Brent is currently around $88; a similar escalation previously pushed Brent to $100.88.
For BTC: the oil price shock → a jump in inflation expectations → the probability of a September rate hike rising further from 50% → pressure on non-yielding assets. BTC is around $80,000 today. Whether this level can hold depends on whether the situation worsens further tonight.
$80,000 is today’s most important support line.
$BTC
$CL
#美伊互袭油轮冲突升级
