Bitcoin

Fertilizer shortages are a second-order effect of the energy crisis, linking natural gas prices (key input for ammonia) to food supply. Historically, food price spikes lead to social unrest and force central banks to prioritize inflation control over growth, tightening financial conditions. For crypto, this means prolonged macro headwinds as liquidity drains and risk appetite shrinks.

Fertilizer shortages caused by the energy crisis threaten global food security, as reported in a Nature article.