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Bitcoin is close enough to the key zone that this macro classification matters immediately

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Why long-term crypto holders borrow against assets instead of selling.

Further, ETF inflows, geopolitical risk, U.S. macro data, Fed signals, and oil stress continue to shape sentiment.

Key facts

Summary

Hormuz-driven oil stress is forcing policy shifts across 8 economies, leaving Bitcoin stuck between liquidity squeeze and support. The disruption around the Strait of Hormuz has moved beyond a commodity-price event and into the machinery of governments. The International Energy Agency said crude and refined-product exports through the strait had fallen to less than 10% of pre-conflict levels after about 20 million barrels per day moved through the route in 2025, equal to roughly a quarter of global seaborne oil trade. That is the scale of shock that stops being only a Brent chart. The U.S. Energy Information Administration now expects Middle East production shut-ins to average 7.5 million b/d in March, peak at 9.1 million b/d in April, and drive a 5.1 million b/d global inventory draw in the second quarter.

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