After Trump confirmed that the US military had launched strikes on Iranian targets, the situation near the Strait of Hormuz quickly escalated, and market risk aversion increased accordingly. Bitcoin declined in this context, falling to $77,645.56 over 24 hours, a decrease of 1.2%.
Oil prices are rising rapidly.
According to The Kobeissi Letter, citing sources from U.S. officials, relevant crackdown actions are underway. As a result, crude oil prices have risen significantly.
- Brent crude oil approaches $95 per barrel
- U.S. crude oil prices rise towards $90 per barrel
- Both have risen to their highest levels since July 24th.
Risk assets under pressure
The Strait of Hormuz is one of the key global oil transportation routes. After the escalation of tensions, concerns about supply disruptions in the market have increased, and as a result, the risk appetite of investors has declined.
In this round of volatility, Bitcoin, like other risky assets, came under pressure and declined. The article states that investors have shifted to a more cautious positioning in light of the new geopolitical tensions.
Trump issues a warning
The report mentioned that while confirming the strike, Trump warned Iran not to take retaliatory measures. This statement further intensified market concerns about the potential escalation of conflict and also amplified short-term price fluctuations.
