, SLIDE, oil spikes due to renewed war risks between the US and Iran.
What you need to know:
= #BTC Bitcoin has proven to be more resilient than oil and stocks in the face of recent disruptions related to Iran, having only dipped slightly even as traditional markets reassess Middle East risks.
= The recent escalation, including the renewed control over the Strait of Hormuz and US threats against Iranian infrastructure, has reversed a three-week reduction in energy and stock war risks.
= Shrinking Bitcoin sell-offs with each Iranian shock indicates that crypto has significantly priced in geopolitical risks, with traders watching if bond yields, the dollar, and key levels around $74,000 to $73,000 confirm its role as a geopolitical shock absorber.
Bitcoin is absorbing the Middle East risk better than oil or stocks.
Bitcoin traded at $74,335 on Monday morning, down 1.6% in the last 24 hours but still up 4.8% for the week after the US Navy seized an Iranian ship over the weekend and Tehran reasserted control over the Strait of Hormuz.
ETH dipped 2.6% to $2,272, Solana dropped 1.5% to $84, while BNB held steady at $618, with red showing up in the top ten but none of the moves exceeded 3%.
#StraitOfHormuz #OilPrices #Sheraz992
