There’s been another incident in the Strait of Hormuz. Since September 28, at least 12 oil tankers have been attacked there, most of them crude carriers. Iran is making it clear that it wants to turn this global oil route into a high-risk zone. Oil prices jumped in response, and the dollar strengthened too.
That’s not good news for crypto in the short term. Rising oil prices push inflation expectations higher and put the brakes on the Fed’s easing plans. A stronger dollar, meanwhile, hits risk assets first. That’s why we’ve seen Bitcoin fall below $84,000 over the past couple of days. It’s now hovering around $84,157, while Ethereum is at $2,610, BNB at $767, and SOL at $118—all in the red.
But my view is clear: geopolitical turmoil like this is precisely the fuel Bitcoin needs in the medium term. In times of chaos, the value of a neutral asset that isn’t controlled by any country and can be moved at any time will only be reassessed. In the short term, risk assets fall first; over the long term, the safe-haven narrative gains strength again.
So don’t rush to sell at a loss. What really matters is whether oil prices spiral out of control and whether the Fed dares to keep tightening. As long as the situation doesn’t deteriorate completely, this sell-off is handing patient investors an opportunity to accumulate.
That’s not good news for crypto in the short term. Rising oil prices push inflation expectations higher and put the brakes on the Fed’s easing plans. A stronger dollar, meanwhile, hits risk assets first. That’s why we’ve seen Bitcoin fall below $84,000 over the past couple of days. It’s now hovering around $84,157, while Ethereum is at $2,610, BNB at $767, and SOL at $118—all in the red.
But my view is clear: geopolitical turmoil like this is precisely the fuel Bitcoin needs in the medium term. In times of chaos, the value of a neutral asset that isn’t controlled by any country and can be moved at any time will only be reassessed. In the short term, risk assets fall first; over the long term, the safe-haven narrative gains strength again.
So don’t rush to sell at a loss. What really matters is whether oil prices spiral out of control and whether the Fed dares to keep tightening. As long as the situation doesn’t deteriorate completely, this sell-off is handing patient investors an opportunity to accumulate.