PANews February 28 News, according to CoinDesk, despite many concerns on social media that Iran might block the Strait of Hormuz to disrupt oil supplies, some experts believe these fears may be exaggerated. The strait is a critical route for about 20% of global oil transportation. Some argue that in the event of direct conflict, oil prices could surge to $120 to $150, triggering inflation shocks and market sell-offs. This conflict has caused tension in the crypto market, which is the only market where investors can express fear and risk during the weekend when traditional markets are closed. However, some analysts point out that a complete blockade of the strait is not in Iran’s interest and is even geographically unlikely.
Economist Daniel Lacalle stated that Iran currently produces 3.3 million barrels of oil per day, and blocking the strait would be like “cutting off its own path.” Additionally, the shipping lanes in the strait are mainly in Omani waters, not Iranian waters, because the water on Iran’s side is too shallow for large oil tankers. Energy market expert Dr. Anas Alhajji said that despite multiple wars, the Strait of Hormuz has never been truly blocked because it is too wide and well protected, making a blockade practically impossible. Overall, the likelihood of Iran blocking the strait and cutting off oil supplies is low. However, full-scale war could still trigger widespread risk aversion, potentially pushing Bitcoin below the key support level of $60,000.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Financial and Crypto Expert Reveals Two Reasons to Be Bullish on Ethereum Over Bitcoin
Financial and crypto expert reveals two reasons to be bullish.
Specifically, he says he is more bullish on Ethereum over Bitcoin.
He states that an ETH investment now could be the best investment ever.
The crypto community has been debating the pros and cons of Bitcoin and altcoins
CryptoNewsLand6m ago
BlackRock transferred about 1,178 BTC worth approximately $82.25 million via the IBIT fund to an institutional-grade custody platform.
Gate News message. On April 6, Arkham monitoring data shows that, about 32 minutes ago, BlackRock sent a total of about 1,178 BTC, worth approximately $82.25 million, to an institutional-grade custody platform via its Bitcoin exchange-traded fund IBIT to a certain institution. After this transfer, there may be further transfer activity.
GateNews11m ago
Liquid Capital founder Li Huahua made a strategic investment in imBack, saying it helped recover the BTC that was lost 18 years ago
Liquid Capital founder Li Hua announced that he successfully recovered an iPhone that was locked 18 years ago and the lost BTC through imBack. He praised imBack’s technical capabilities and has completed a strategic investment in it. imBack provides a service to recover crypto assets, helping users access digital wallets with locked or lost private keys.
GateNews22m ago
Crypto Market Sees Wider Rebound As $ETH and $BTC Lead Gains Despite Fearful Sentiment
The crypto market experienced a 2.23% gain, reaching a $2.36T market cap, with Bitcoin and Ethereum rising 3.17% and 3.78%, respectively. Notable gainers included $TRUMP, $GROK, and $MAGA. DeFi TVL increased by 1.72%, while NFT sales rose 5.79%. HypurrFi warned users of domain hijacking, and Apple removed Bitchat from China.
BlockChainReporter23m ago
Standard Chartered Bank Predicts $500K Bitcoin as Price Climbs - Coinspeaker
Standard Chartered has put a $500,000 Bitcoin price target on the table for 2030, and the market nudged higher in response – BTC climbing roughly 100 basis points to $67,500 as the forecast circulated.
The number alone is striking; what’s more telling is that it comes from a bank with a $70
Coinspeaker31m ago
Bitcoin rallies on report of Iran ceasefire talks, Algorand extends gains
Bitcoin BTC$69,892.51 climbed to near $70,000 as traders reacted to signs of possible de-escalation in the Iran war and amid a short squeeze that liquidated more than $270 million in shorts.
Crypto prices rose, along with equity index futures and equities, as Axios reported that the U.S. and Iran a
CoinDesk46m ago
