Bitcoin Price Slips Below $100K, Hinting Oil-Led Risk-Off on Wall Street

Description

Bitcoin BTC fell below $100,000 on Sunday, its lowest point since May, signalling risk aversion on Wall Street on Monday amid reports that Iran is leaning towards blocking the Strait of Hormuz. The Strait, located between Oman and Iran, connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, handling roughly 20% of the global oil trade. Reports of Iranian politicians mulling the closure of the Strait had observers worried about a significant spike in oil prices early Monday. "After ...