“Bitcoin Fell Bell $ 100,000 On Sunday, Its Lowest Point Since May 8. Xrp, Eth and Sol Followed Suit.”, – WRITE: www.coindesk.com
Fell Bell $ 100,000 on Sunday, Its Lowest Point Since May, Signalling Risk Aversion on Wall Street on Monday Amid Reports That Iran is Leaning Towards Blocking The Strait of Hormuz.
The Strait, Located Between Oman and Iran, Connects The Persian Gulf with The Gulf of Oman and the Arabian Sea, Handling Roughly 20% of the Global Oil Trade.
Reports of Iranian Politicians Mulling The Closure of the Strait Had Oberries Worked About A Significant Spike in Oil Prices Early Monday.
“After US Strikes on Iran Last Night, 50+ Large Oil Tankers Were Scrambleing to Leave the Strait of Hormuz. Markets have been Closed, but An immediate Drop in Supply Is Expert Morgan Described this as Their Worst-Case Scenario in the israel-Iran War, “The Kobeissi Letter Said on X.
Accorging to jpmorgan, Oil Could Surge to $ 120- $ 130 Per Barrel in that Scenario. That could potentilly Lift the US Inflation Rate to 5%, The Highest Since March 2023. At the Time, The Federal Reserve Was Raising Interest Rates.
The losses in BTC Weighed Heavly Over the Broader Crypto Market, As Usual, Dragging Major Altcoins Such As XRP, SOL, AND ETH LOWER. The Payments-Focused Xrp Slipped 6% to $ 1.935, The Lowest Since April 10. Ethereum’s Ether tokon Slipped to Levels Seen in Early May, Accounting To Condesk Data.
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