Bitcoin

This occurs while the market is already in 'fear' mode (F&G 38) with high BTC dominance, indicating fragile risk appetite. Unlike 2020-2021 when crypto decoupled from oil shocks, today's market structure—low liquidity and institutional dominance via ETFs—makes it vulnerable to traditional risk-off flows. The event exposes crypto's re-linking to macro drivers as Fed rate cut expectations fade.

The US and Iran's standoff in the Strait of Hormuz has put the fragile Gulf ceasefire in serious jeopardy.