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Oil Shockwaves Hit $100 Threshold as Hormuz Closure Sparks Crypto Hedge Demand

Oil Shockwaves Hit $100 Threshold as Hormuz Closure Sparks Crypto Hedge Demand

Author:

Global Cryptocurrency

Published:

2026-03-02 09:25:02

19

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BTCCSquare news:

Brent crude's 13% surge to January 2025 highs after Middle East hostilities disrupted 20% of global oil supply has sent shockwaves through risk assets. Energy stocks like Exxon Mobil (XOM) and Chevron (CVX) rallied, while crypto markets saw defensive positioning in Bitcoin (BTC) and ethereum (ETH) as inflation hedges.

The Strait of Hormuz blockade triggered a flight to hard assets, with Bitcoin dominance (BTC.D) rising 2.4% as traders anticipated Fed liquidity responses. Oil-linked tokens like OilCoin (OIL) on Binance spiked 28%, while energy-intensive proof-of-work coins like Litecoin (LTC) and Bitcoin SV (BSV) underperformed due to rising operational cost concerns.

Bybit and Binance perpetual futures showed 3x normal volume in oil-correlated crypto pairs. Tether (USDT) premiums hit 1.2% across Middle Eastern exchanges as regional capital sought dollar proxies.

By:

Gold and Silver Rally as Geopolitical Tensions Escalate

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