๐ฃ Iran has begun mining the Strait of Hormuz, โ CBS News reports, citing U.S. intelligence.
For the crypto market, this is considered a negative factor. Higher oil prices tend to fuel inflation, which may force central banks to keep interest rates elevated for longer. As a result, liquidity in the financial system tightens, putting pressure on risk assets such as $BTC , according to analysts at CryptoQuant.