Iran halts oil exports as Strait of Hormuz blockade impacts prices

What To Watch

• 1.BTC $68,500 — a sustained break above this level would confirm a bullish continuation, targeting $72,000 as the next resistance.
• 2.Stablecoin Dominance (Tether/USDC) — a significant rise above 10% signals increased dry powder on exchanges, indicating potential buying pressure or a flight to safety.
• 3.Escalation of Middle East Conflict (Strait of Hormuz closure) — if sustained, this would cause a global energy crisis, leading to rampant inflation, aggressive central bank rate hikes, and a potential severe global recession, severely impacting risk assets like crypto.