Bitcoin

This move is part of a broader trend of resource nationalism and decoupling, which increases production costs and geopolitical uncertainty. For crypto, it reinforces the narrative of Bitcoin as a non-sovereign store of value, but the immediate effect is muted as markets are already pricing in macro headwinds.

China imposed export controls on rare earths and other niche metals.

China Rare Earth Curbs Threaten ASIC Supply, Bolster Bitcoin Hedge Case

China's rare earth export controls are actually bullish for Bitcoin: they accelerate the narrative of Bitcoin as a hedge against state-controlled resource weaponization.

Resource nationalism is spreading: Australia joins a growing list of countries hoarding energy for domestic use. This reduces global supply elasticity, making energy shocks more frequent. For crypto, higher energy costs squeeze mining margins and reinforce a macro environment hostile to speculative assets.

Australia's requirement for LNG producers to reserve a fifth of exports for local use will apply to all projects and existing contracts.