U.S. President Donald Trump's recent remarks about potentially blockading the Strait of Hormuz have reignited market volatility, causing oil prices to surge 8.08% intraday. This development comes amid a 14.25% weekly pullback in oil prices, which had initially suggested a strong week for risk assets. However, Bitcoin [BTC] remains steady around $70,000, despite the geopolitical tensions. The divergence between oil and Bitcoin prices follows a period of ceasefire developments that had briefly pushed cryptocurrencies into risk-off territory. Analysts are now considering the possibility of a significant oil price increase, potentially surpassing the Q1 rally where oil closed up 76%. Meanwhile, Bitcoin's current positioning around $70,000 suggests a potential liquidity flush, with over $4 billion in long positions clustered near $67,000. If geopolitical tensions continue to escalate and financial conditions tighten, Bitcoin could face a move back below $65,000 by the end of the week.
Trump's Hormuz Strait Comments Trigger Market Volatility, Bitcoin Faces $65K Risk
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