Bitcoin fell below $63,000 on Monday, influenced by rising oil prices and declining equity futures following U.S. strikes on Iran. Factors like thin weekend trading and fund flows also contributed to the drop, with Bitcoin nearing $60,000.
Bitcoin fell below $63,030 as a hawkish Federal Reserve stance overshadowed a deal easing passage through the Strait of Hormuz and lower oil prices. Despite the geopolitical relief, the Fed's updated projections and increased likelihood of rate hikes pushed the US dollar higher, pressuring risk assets like Bitcoin.
Iran and US negotiations on nuclear issues and sanctions relief are set to begin following a memorandum of understanding. This framework has already impacted oil prices, with Brent crude and WTI falling, and has created a complex outlook for Bitcoin, whose future performance is now closely linked to the negotiation's outcome over the next 60 days.
Major central banks are on high alert to reset monetary policies due to the oil shock from the US-Iran war. The Bank of Japan is expected to raise interest rates significantly, while the Bank of England may adopt a cautious approach.
Bitcoin's potential surge to $300,000 by late 2026 mirrors gold's 2011-2026 rally, but hinges on oil prices and Federal Reserve policy. A prolonged Strait of Hormuz disruption could trigger inflation, prompting rate hikes and ETF outflows, invalidating Bitcoin's breakout pattern.
India's economy is significantly impacted by a nearly 60% surge in crude oil prices, exacerbated by rupee depreciation and heavy import reliance. A report warns of potential $200/barrel oil prices if the Strait of Hormuz closes, risking a global recession.
US Secretary of State Marco Rubio visits India to discuss energy sales amid the Iran war's impact on global supply. India, heavily reliant on imports, faces challenges due to shipping disruptions. The visit also addresses trade tensions and the Quad grouping.
India's economy has been repeatedly reshaped by oil shocks, from inflation and forex pressure to wider economic shifts. The country has navigated five decades of crude disruptions, from the 1973 Arab embargo to the recent Hormuz crisis, adapting its policies and sourcing strategies.
Wucaiwan, a boomtown in Xinjiang, China, is rapidly developing due to its immense coal reserves, estimated at 390 billion tonnes. It's a key hub for coal-chemical production, contrasting with the historical dominance of oil in global development.
German producer prices rose 1.7% in April year-on-year, the largest increase in nearly three years, driven by a 35.5% surge in oil prices due to the Iran conflict. Natural gas and electricity prices decreased.
German producer prices saw their sharpest increase in nearly three years in April, driven by the oil price shock from the Iran war. Energy prices rose 2.0%, with mineral oil up 35.5%. This signals broader inflation.
India's state-run fuel retailers increased petrol and diesel prices by approximately 90 paise per litre on Tuesday, the second hike in less than a week. This follows a four-year freeze, attributed to the US-Iran conflict impacting global oil prices. The increases coincide with a severe heatwave across northern and central India.
PM Modi urges Indians to reduce gold purchases, avoid unnecessary foreign travel, and conserve fuel amid economic pressures from the Iran war, which has increased India's oil import bill and strained dollar supply.
Bitcoin's trajectory hinges on whether markets view the oil shock as causing sticky inflation with tight financial conditions or prompting policy accommodation, leading to two potential pathways: stagflation-driven liquidity squeeze or scarce-asset narrative revival.
Traders are embracing the “NACHO” trade, betting Hormuz disruptions and elevated oil prices will persist longer than expected.
In theory, the U.K. should be less exposed to the impact of higher energy prices than some peers. In practice, the price surge is having a dire impact.
Central banks are widely expected to raise interest rates in a bid to temper soaring energy prices.
Pakistan's Petroleum Minister revealed the country's critical vulnerability to global oil price shocks due to a lack of strategic reserves, contrasting with India's robust energy security.
Prices at the pump have leapt since the start of the conflict – but clinging to fossil fuels will only prolong the painThe car is perhaps the closest thing Germany has to a national symbol. For this reason, the success of the auto industry and the happiness of motorists has long been a barometer for the standing of the Federal Republic.Since the beginning of the war on Iran, German news has been filled with stories about drivers. Journalists have filed breathless dispatches from petrol stations all over the country, reporting scenes of anger and frustration at the hike in fuel prices.Tania Roettger is a journalist based in Berlin Continue reading...
China relies heavily on Middle Eastern oil imports, but experts say a double-insurance strategy appears to have helped the country absorb at least the initial shock after disruption to the Strait of Hormuz.
US GDP grew 2% in Q1 2026, driven by a 10% jump in government spending and 6.4% domestic investment in AI infrastructure. However, consumer spending is slowing as the war with Iran pushes oil to $126/barrel, raising inflation expectations from 3.8% to 4.7% in one month. The Fed's Powell warned of institutional independence pressures from the Trump administration while maintaining a hold strategy.
Contemporary Amperex Technology Ltd (CATL) has taken a leap forward in commercialising sodium-ion batteries, signing a large supply contract with an energy-storage system (ESS) provider amid high demand for power infrastructure after the global oil shock. The world’s largest electric vehicle (EV) and ESS battery maker announced on Monday that it would deliver 60 gigawatt-hours (GWh) of sodium-ion batteries to Beijing HyperStrong Technology over three years in a landmark deal for the new battery...
Accompanying the oil shock unfolding in the Strait of Hormuz is a profound change in the way fiscal and monetary policymakers operate. And as the government prepares the budget, with the impact of the Iran war still unfolding, a recession may be ahead.
Rising oil prices due to geopolitical tensions in the Strait of Hormuz are challenging the Federal Reserve's inflation targets, potentially forcing a 'higher-for-longer' interest rate stance that threatens the bullish outlook for Bitcoin and risk assets.
