๐ฆ๐ช UAE just rocked the oil establishment โ after nearly 60 years, it's officially exiting OPEC and OPEC+, effective May 1.
They've been cramped by production quotas and want full freedom to pump as they see fit โ with plans to boost output by up to 30% unconstrained. Oil prices trimmed gains on the news, with WTI pulling back to $99.81/bbl after briefly popping above $100. For crypto, this means more volatility ahead. Cheaper oil and a stronger dollar often pressure BTC short-term. But with the Strait of Hormuz still largely shut due to the Iran war, actual supply hitting the market may be delayed โ giving crypto traders a window to position before the real wave of oil arrives. Stay sharp! โฝ๐
$BTC
#ArthurHayesโLatestSpeech #BinanceLaunchesGoldvs.BTCTradingCompetition #StrategyBTCPurchase EthereumFoundationUnstakes$48.9MillionWorthofETH#ShootingIncidentAtWhiteHouseCorrespondentsDinner TetherFreezes$344MUSDTatUSLawEnforcementRequest#CanTheDeFiIndustryRecoverQuicklyFromAaveExploit?
They've been cramped by production quotas and want full freedom to pump as they see fit โ with plans to boost output by up to 30% unconstrained. Oil prices trimmed gains on the news, with WTI pulling back to $99.81/bbl after briefly popping above $100. For crypto, this means more volatility ahead. Cheaper oil and a stronger dollar often pressure BTC short-term. But with the Strait of Hormuz still largely shut due to the Iran war, actual supply hitting the market may be delayed โ giving crypto traders a window to position before the real wave of oil arrives. Stay sharp! โฝ๐
$BTC
#ArthurHayesโLatestSpeech #BinanceLaunchesGoldvs.BTCTradingCompetition #StrategyBTCPurchase EthereumFoundationUnstakes$48.9MillionWorthofETH#ShootingIncidentAtWhiteHouseCorrespondentsDinner TetherFreezes$344MUSDTatUSLawEnforcementRequest#CanTheDeFiIndustryRecoverQuicklyFromAaveExploit?
