Bitcoin
Its lowest point has fallen by $100,000 since May, suggesting that risks on Wall Street were averse to risk on Monday, and Iran reportedly tends to block the Hormuz Strait.
The straits between Oman and Iran link the Persian Gulf to the Gulf of Oman and the Arabian Sea, dealing with about 20% of global oil trade.
Reports from Iranian politicians Consider closing the strait Observers fear oil prices surged earlier on Monday.
“After the U.S. strike in Iran last night, more than 50 large tankers scrambled to leave the Strait of Hormuz. The market has been closed, but an immediate drop in supply is expected to make prices higher. JPMorgan described it as the worst situation in the Israeli-Iran war. explain On X.
In this case, oil could soar to $120-130 a barrel, according to JPMorgan. Can Possible to lift The U.S. inflation rate reached 5%, the highest since March 2023. At that time, the Federal Reserve was raising interest rates.
As usual, BTC’s losses have taken a significant role in the wider cryptocurrency market, dragging major Altcoins such as XRP, SOL and ETH LOWER. At its lowest point since April 10, payment-focused XRP fell 6% to $1.935. According to Coindesk, Ethereum’s Ether’s Ether tokens fell to early May levels.
