Connect with us
DAPA Banner

Crypto World

Navy blockade sends oil past $103

Published

on

ChangeNOW is settling crypto swaps in under a minute.

The crypto market entered a new phase of geopolitical stress on Monday morning when the US Navy began enforcing a blockade of Iranian ports at 10 AM ET, sending Brent crude above $103 a barrel and keeping bitcoin pinned near the $70,000 support level that has held since the Islamabad ceasefire talks collapsed over the weekend.

Summary

  • Brent crude rose more than 7 percent to top $103 a barrel after CENTCOM confirmed the blockade, while WTI climbed 7.8 percent to $104; the moves came after the US and Iran failed to agree on extended terms during 21 hours of talks in Islamabad on April 11 and 12, with VP Vance announcing the breakdown Saturday night.
  • Bitcoin traded around $70,600 to $71,085 on Monday morning, holding above $70,000 through the blockade announcement; the ceasefire technically remains in effect until April 22, though neither side has indicated it will be extended following the Islamabad collapse.
  • CENTCOM clarified the blockade targets maritime traffic to and from Iranian ports only and will not impede freedom of navigation for vessels transiting the Strait to non-Iranian ports, a partial scaling back of Trump’s social media announcement which said the Navy would interdict any ship that had paid a toll to Iran.

As CNN Business reported, WTI crude is now more than 50 percent higher than before the war effectively shuttered the Strait in late February. Iran’s oil accounts for roughly 4 percent of world supply, most of it exported to China, and the blockade could cut off a significant source of funding for Tehran’s government and military. Capital Economics chief economist Neil Shearing wrote in a note that the move “risks creating new potential flashpoints,” raising the question of whether the US Navy would seize allied ships that had paid tolls to Iran or target Chinese vessels in the Strait. Only 17 ships passed through the waterway on Saturday, compared with an average of roughly 130 daily crossings before the war.

Bitcoin’s resilience at the $70,000 level through this weekend’s events is meaningful. The asset dropped into the low $60s when Iran first closed the Strait in late February, then rallied to $72,700 when the ceasefire was announced April 7, liquidating $427 million in short positions. The subsequent pullback to the $70,000 to $71,000 range on the Islamabad collapse and Monday’s blockade news shows the market has partially priced in a return to conflict. Holding $70,000 through a formal naval blockade is a structurally different outcome than the early-war behavior.

Advertisement

What the Oil Price Level Means for Bitcoin

The direct transmission between oil and bitcoin runs through inflation expectations and Federal Reserve policy. Every dollar oil climbs above $100 makes a rate cut less likely, keeps liquidity tighter, and suppresses risk appetite across equities and crypto simultaneously. As crypto.news has reported, bitcoin’s behavior as a high-beta risk asset during oil spikes has been consistent across the entire conflict period, with an 85 percent correlation to the Nasdaq-100 during energy price surges.

What Happens Next Before April 22

As crypto.news has noted, three catalysts now define the two weeks ahead: the ceasefire expiry on April 22, the CLARITY Act Senate markup targeted for late April, and the FOMC meeting on April 28 and 29. If the blockade tightens oil supply further and prices push past $110, analysts project bitcoin could fall toward $65,000. A last-minute diplomatic breakthrough before April 22 could reverse that move sharply, as the original ceasefire rally demonstrated.

Advertisement

Source link

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

Only 4% of Danish Citizens Hold Crypto Despite Global Growth: Survey

Published

on

Only 4% of Danish Citizens Hold Crypto Despite Global Growth: Survey

Only 4% of Danish citizens own cryptocurrencies, a figure that has remained unchanged since 2023 despite the global growth of the sector across Europe and other jurisdictions, according to a new staff paper from the country’s central bank published Wednesday.

The Danmarks Nationalbank staff paper, based on a survey conducted by Epinion, revealed that among those who do hold crypto, most maintain relatively small positions. The majority reported holdings below 10,000 Danish kroner (around $1,570), with total national holdings estimated between $317 million and $847 million.

The survey is based on responses from 3,013 citizens aged 15 and above. The data was gathered between October and November 2025 through Denmark’s Digital Post system, with options to respond online or by phone. The sample was weighted to reflect national demographics.

The findings show that Denmark sits at the lower end of crypto adoption compared to other European countries, where ownership rates are higher. Countries such as Norway, Finland and the United Kingdom report over 10% of their populations hold crypto assets.

Advertisement
Denmark has lower rate of crypto adoption compared to other countries. Source: Danmarks Nationalbank

Danmarks Nationalbank said Danish banks have historically taken a cautious approach to crypto assets, with most previously not allowing customers to buy them through bank platforms and often discouraging such investments as high risk. The paper also pointed to earlier asymmetric tax treatment as another factor weighing on adoption.

Related: EU adviser says ‘MiCA 2’ is likely as crypto market matures: PBW 2026

Crypto ownership in Denmark skews young and wealthy

Crypto ownership in Denmark is concentrated among younger and higher-income individuals, with participation dropping sharply among those over 60, the survey found.

The survey also revealed that crypto is primarily viewed as an investment rather than a means of payment. Actual usage for transactions remains rare, and only a small share of holders report using digital assets to pay for goods or services.

Source: Danmarks Nationalbank

The survey shows that 70%-75% of users store their assets with crypto asset service providers, while only about 20%-30% use self-hosted wallets for self-custody.

Indirect exposure through crypto-linked stocks and exchange-traded products has increased since 2023 but remains limited at around $211 million, or roughly 0.4% of total equity holdings.

Advertisement

Related: No, Denmark did not propose banning self-custody wallets

Danske Bank opens door to crypto investments

Earlier this year, Danske Bank, Denmark’s largest bank, began allowing customers to invest in crypto through exchange-traded products tied to Bitcoin (BTC) and Ether (ETH).

At the time, the bank said more clients are seeking crypto exposure as part of their portfolios, adding that stronger regulatory frameworks, particularly the European Union’s Markets in Crypto-Assets Regulation, have made it feasible to offer such investments.

Magazine: Bitcoin may take 7 years to upgrade to post-quantum — BIP-360 co-author

Advertisement