PANews June 22 news, according to CoinDesk, Bitcoin fell below $100,000 on Sunday due to market concerns that Iran might block the Strait of Hormuz, marking the lowest level since May this year. XRP dropped to its lowest level since early April, ETH fell to May's level, and SOL prices also plummeted. The Strait of Hormuz is a crucial channel for global oil trade, accounting for about 20% of the world's oil supply, leading to an increase in risk-averse sentiment on Wall Street.
JPMorgan predicts that oil prices could soar to $120-130 per barrel under these circumstances, potentially raising the U.S. inflation rate to 5%, the highest level since March 2023.
