$BTC fell below $84,000 just hours after Iran attacked more oil tankers in Hormuz.
Early this morning (Vietnam time), Iran stepped up attacks on oil tankers transiting the Strait of Hormuz, sending crude oil prices sharply higher. $BTC plunged from above $86,200 to a low of $83,442 in just a few hours. It is currently trading around $83,600, down more than 3% in 24 hours.
Bloomberg and CoinDesk both confirmed that oil tanker attacks have occurred in quick succession over the past two days, putting oil exports through Hormuz at risk of disruption.
No party has confirmed that Iran will escalate to the point of completely closing the strait—the current warnings remain statements made by an adviser to the Islamic Revolutionary Guard Corps.
This is a familiar pattern: Middle East tensions rise, oil prices climb, and money flows out of risk assets like crypto first.
What to watch: will oil prices hold on to these gains during tonight’s U.S. session, or will they cool off before any ships are actually sunk?
Personal observation, not investment advice
#BTC #Bitcoin #Crypto #Iran #Hormuz
Early this morning (Vietnam time), Iran stepped up attacks on oil tankers transiting the Strait of Hormuz, sending crude oil prices sharply higher. $BTC plunged from above $86,200 to a low of $83,442 in just a few hours. It is currently trading around $83,600, down more than 3% in 24 hours.
Bloomberg and CoinDesk both confirmed that oil tanker attacks have occurred in quick succession over the past two days, putting oil exports through Hormuz at risk of disruption.
No party has confirmed that Iran will escalate to the point of completely closing the strait—the current warnings remain statements made by an adviser to the Islamic Revolutionary Guard Corps.
This is a familiar pattern: Middle East tensions rise, oil prices climb, and money flows out of risk assets like crypto first.
What to watch: will oil prices hold on to these gains during tonight’s U.S. session, or will they cool off before any ships are actually sunk?
Personal observation, not investment advice
#BTC #Bitcoin #Crypto #Iran #Hormuz