The Middle East situation is boiling over. Yemen’s presidential palace has been bombed, the Houthis have warned that Saudi airspace is unsafe, an Iranian oil tanker has caught fire in the Strait of Hormuz, and the US is still weighing whether to use the “Mother of All Bombs” against energy and nuclear facilities. If something really happens in the Strait of Hormuz, global oil prices will jump first.
For crypto, this conflict is really a safe-haven narrative. On the surface, risk assets could take a hit, but BTC is holding up at $82,296, while ETH at $2,443 and SOL at $105.51 haven’t fallen much either. Why? The harsher the sanctions and the more volatile fiat currencies become, the more people look for an asset “no one can confiscate, and that isn’t backed by any country.” BTC fits that role perfectly.
My take: A short-term oil price spike will drain some liquidity and make the market choppy; but the more turmoil there is in the Middle East over the medium term, the stronger BTC’s safe-haven narrative becomes. Don’t let a couple of red candles scare you out—I’m leaning bullish on this move.
For crypto, this conflict is really a safe-haven narrative. On the surface, risk assets could take a hit, but BTC is holding up at $82,296, while ETH at $2,443 and SOL at $105.51 haven’t fallen much either. Why? The harsher the sanctions and the more volatile fiat currencies become, the more people look for an asset “no one can confiscate, and that isn’t backed by any country.” BTC fits that role perfectly.
My take: A short-term oil price spike will drain some liquidity and make the market choppy; but the more turmoil there is in the Middle East over the medium term, the stronger BTC’s safe-haven narrative becomes. Don’t let a couple of red candles scare you out—I’m leaning bullish on this move.