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The impact of Iran-U.S. tension on Cryptocurrencies
Geopolitics Rules: Iran, U.S. and Oil
The news of the day that is shaking the money tables is Iran's rejection of the 15-point ceasefire proposal presented by the U.S., responding with a 5-point counterproposal that raises tensions in the Strait of Hormuz.
Curiously, despite the escalation of warfare and reports of attacks, oil prices fell today by 5% in light of the simple hope for negotiations in Pakistan. This respite in energy has given the green light to risk assets, and cryptocurrencies did not lag behind. In this context, Bitcoin is once again demonstrating its narrative as a non-sovereign safe-haven asset.
The news of the day that is shaking the money tables is Iran's rejection of the 15-point ceasefire proposal presented by the U.S., responding with a 5-point counterproposal that raises tensions in the Strait of Hormuz.
Curiously, despite the escalation of warfare and reports of attacks, oil prices fell today by 5% in light of the simple hope for negotiations in Pakistan. This respite in energy has given the green light to risk assets, and cryptocurrencies did not lag behind. In this context, Bitcoin is once again demonstrating its narrative as a non-sovereign safe-haven asset.