Risk for Strait of Hormuz Makes Bitcoin Fall Below 100K, Ethereum Fall Below 2,200
Geo-political tension don rise after Iran parliament vote to shut down the strategic Strait of Hormuz after US B-2 bomber dem strike Iranian nuclear site dem. Even though final decision dey with Iran Supreme National Security Council, market dem react sharp sharp. Bitcoin drop below $100,000—lowest since early May—Ethereum sef drop under $2,200. XRP fall 6% and Solana SOL also drop as risk-off mood dey grow. The strait dey handle almost 25% of global oil shipment, blockade fit push oil price go $120–$130 per barrel, wey fit cause inflation gbege. JPMorgan warn say if disruption continue, e fit cause stagflation and make demand for scarce asset like Bitcoin increase. Crypto trader dem go dey watch if BTC and ETH fit regain key support level as oil-driven inflation expectation and geo-political risk dominate market feeling.
Bearish
Di kain dey threat for close Strait of Hormuz don make risk-off wahala enter crypto markets, dem dey push Bitcoin comot ground below $100K and Ethereum comot below $2,200. For short time, traders dey sell because dem dey fear supply shock as oil fit shoot reach $120–$130 per barrel, wey fit ginger inflation palava. Even though persistent inflation fit later make Bitcoin better as hedge, di immediate oga-dem reactions show say market fit go down more till political wahala cool down and oil settle. Long term market recovery go depend on how tension go reduce and if supply matter clear well.