Why are cryptocurrencies falling?...đ
Iran is taking steps to close the Strait of Hormuz following American airstrikes.
The strait is a key oil route.
It handles 20â30% of the world's oil exports.
Any disruptions hit energy supplies and destabilize markets.
$BTC Bitcoin falls below $100,000 for the first time since May...
$ETH Ethereum drops 10% to $2,180...
$XRP XRP decreases by 8%, below $2...
$Solana and $BNB are also falling...
Over $950 million in leveraged cryptocurrency positions were liquidated within 24 hours.
Analysts say a full blockade is unlikely, but harassment of tankers is expected.
A complete closure could cause oil prices to rise above $120 per barrel.
The United States has sent forces to the Persian Gulf.
But even without a full blockade, increased military activity and disruptions in shipping are enough to keep markets on edge.
Wishing Patience... đ
