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Update $BTC Bitcoin is in a bullish bounce mode since the ceasefire agreements between the United States and Iran on Monday night. Geopolitics is driving the major short-term movements currently in the market; here are some essential points: The 2-week ceasefire has collapsed the geopolitical risk in the market. Oil prices are in free fall ($CL Brent -11% since Monday night), giving more room for allocations in assets classified as 'risky' like bitcoin. The first tankers began to transit through Hormuz yesterday and today; therefore, concrete confirmation that the blockade has been lifted. Flows into Bitcoin ETFs have been very positive for the last 48 hours (+$180M net just yesterday). Charles Schwab has also confirmed the launch of its cryptocurrency spot trading for its clients starting next week. So there are many optimistic factors in the market currently. Additionally, U.S. inflation data from March has come out a bit softer than expected, anticipating a more accommodative Fed. In summary, bitcoin is fully benefiting from the de-escalation in the Middle East. The fragile truce (negotiations yesterday in Islamabad) sustains sentiment, but caution is needed: an incident in Hormuz or a resumption of Israeli attacks could reverse everything in a matter of hours.
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🚨 Big news in Crypto & the global market 🌍🔥 🇮🇷 Iran is reportedly charging transit fees for tankers using cryptocurrency payments 💰 ⚠️ Ships passing through the Strait of Hormuz may need to pay in: • Crypto (including Bitcoin) • Chinese Yuan 👉 This could be a HUGE step towards the adoption of cryptocurrencies in the real world 🚀 💡 Imagine: Oil trading + Bitcoin = Massive impact on the market 👇 What do you think? 👍 Bullish 🔥 Great adoption ❤️ Game changer #IranClosesHormuzAgain #IranHormuzCryptoFees