Crypto World
Arthur Hayes Says $300B Liquidity Drain Is Driving Bitcoin Lower
Arthur Hayes says Bitcoin’s recent pullback is less about crypto-specific weakness and more about a sharp contraction in dollar liquidity rippling through global markets.
Key Takeaways:
- Arthur Hayes links Bitcoin’s pullback to a $300B contraction in U.S. dollar liquidity rather than crypto-specific factors.
- The USDLIQ index has fallen nearly 7% in six months, reflecting tighter financial conditions.
- Hayes says government cash buildup and reduced liquidity are pressuring Bitcoin and other risk assets.
In a post on X, the former BitMEX chief executive pointed to a roughly $300 billion drop in U.S. dollar liquidity over the past several weeks, driven largely by a $200 billion increase in the Treasury General Account (TGA).
Hayes suggested the U.S. government may be rebuilding cash buffers to fund spending in case of a potential shutdown, effectively pulling liquidity out of the financial system.
Dollar Liquidity Index Falls 7%, Weighing on Bitcoin
The contraction is visible in the USDLIQ index, which tracks broad dollar liquidity conditions.
The index has fallen nearly 7% over the past six months, sliding from highs near 11.8 million in August to around 10.88 million at the end of January, according to market data shown in Hayes’ post.
Bitcoin’s price weakness over the same period, Hayes argued, should not come as a surprise.
“$BTC falling not a surprise given the fall in $ liquidity,” Hayes wrote, linking the move directly to macro forces rather than sentiment shifts within the crypto market itself.
Liquidity conditions have long been a key driver for Bitcoin and other risk assets, with periods of expanding dollar supply often coinciding with strong rallies.
Conversely, when cash is absorbed by government accounts or tighter financial conditions, speculative assets tend to struggle as leverage unwinds and risk appetite fades.
Hayes’ comments come as Bitcoin has failed to regain momentum after recent pullbacks, even as some investors look for catalysts such as interest rate cuts or renewed inflows into spot ETFs.
Instead, the focus is shifting toward macro plumbing, including Treasury cash management and broader dollar availability, as a near-term headwind.
Bitcoin Slides as Fed Caution, Geopolitics Sap Risk Appetite
Bitcoin has fallen back below $89,000 after a short-lived rebound, pressured by tighter financial conditions and rising geopolitical stress that have weighed on risk assets.
According to XS.com analyst Samer Hasn, a Federal Reserve stance that remains neutral to hawkish, combined with tensions in the Middle East, has reduced demand for speculative investments across crypto markets.
Market data points to weakening conviction among traders. CoinGlass figures show crypto futures open interest is down 42% from record highs, with attempted breakouts quickly reversed by sharp sell-offs.
At the same time, capital has rotated toward traditional havens such as gold and silver, leaving digital assets struggling to attract fresh inflows as volatility persists.
With Federal Reserve Chair Jerome Powell signaling little urgency to cut rates and geopolitical risks pushing investors toward tangible assets, analysts say Bitcoin remains a higher-risk trade until either policy eases or global tensions cool.
The post Arthur Hayes Says $300B Liquidity Drain Is Driving Bitcoin Lower appeared first on Cryptonews.
Crypto World
US Labor Market Shows Recession-Level Weakness Outside One Sector
The US labor market appears increasingly reliant on a single driver. Labor Department data shows that healthcare and social assistance have accounted for nearly all net private-sector job growth since December 2024, while the rest of the economy has shed jobs.
A breakdown of the numbers reveals a sharp divide between one booming sector and widespread weakness across virtually every other industry.
Healthcare Props Up US Labor Market as Rest of Private Sector Contracts
The Global Markets Investor noted that the US economy has added an average of just 21,000 jobs each month since the beginning of 2025. This represents an annual pace of roughly 0.2%.
The post stated that the job creation has “never been this weak” outside of a formal recession. To put this in perspective, annual employment growth averaged about 2.2% between 1948 and 1979, slowed to 1.5% from 1980 to 2007, and dropped further to roughly 0.8% during both 2008–2019 and 2020–2024.
At present, job growth is running at a pace nearly four times weaker than during the post-financial crisis period and more than ten times weaker than during the post-war expansion.
Meanwhile, healthcare and social assistance have added approximately 57,000 jobs per month since December 2024. That means the rest of the private sector has been losing an estimated 21,500 jobs per month over the same stretch.
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“Since December 2024, healthcare and social assistance has added ~855,000 jobs, while the rest of the private sector has lost -322,000. That means a single sector is masking a broad-based CONTRACTION across the rest of the world’s largest economy,” Global Markets Investor wrote. “Healthcare and social assistance now represents NEARLY ALL net private-sector job creation since the end of 2024.”
The March 2026 jobs report reinforced the pattern. The economy added 178,000 nonfarm payrolls, but healthcare alone accounted for 76,000 of those positions.
“Remove one sector and the labor market is already in a RECESSION,” the post added.
This concentration raises a key concern: without one sector propping up employment, the broader labor market may already resemble recessionary conditions, even as headline figures suggest continued growth.
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The post US Labor Market Shows Recession-Level Weakness Outside One Sector appeared first on BeInCrypto.
Crypto World
Michael Saylor Hints at Return to Weekly Bitcoin Purchases
Michael Saylor has hinted his Bitcoin treasury firm is back on track with its weekly Bitcoin purchases after taking a rare week off at the end of March.
In an X post on Sunday, Saylor shared a screenshot from StrategyTracker with the caption “Back to Work.” He often posts the chart ahead of purchase announcements.
The firm took a week off from buying BTC at the end of March, breaking its weekly buying streak for the first time this year. The firm’s last purchase was reported on March 23, buying about $77 million worth of BTC at $74,326 per coin.

One of the main avenues Strategy uses to fund Bitcoin purchases is via the sale of its perpetual preferred stock, Stretch (STRC). The stock is designed to generally trade around its par value of $100, which is aided by a monthly dividend adjustment mechanism.
Related: Bitcoin and the US dollar have a ‘symbiotic’ relationship: BPI exec
Strategy issues new shares of STRC and then allocates the proceeds generated from the market into Bitcoin buys.
According to estimates from STRC.LIVE, Strategy could be set for a purchase of at least 1,821 BTC based on funds raised for the week ending April 3.

Despite the week off, the firm is showing no signs of slowing down. In late March, Strategy announced plans to raise $44.1 billion to fund BTC purchases primarily via the selling of its common MSTR shares and STRC.
According to Strategy’s website, the firm has acquired a total of 762,099 BTC for an average cost of $75,694 per coin. At current prices of about $69,100, Strategy’s holdings are in the red overall.
However, Bitcoin is in the green over the last month, increasing by 1.2% over the past 30 days, according to data from CoinGecko. The price is still down 20.9% year-to-date amid geopolitical tensions and a challenging macro climate.
Crypto World
Jack Dorsey’s Decentralized Bitchat App Removed from China App Store
Bitchat, a decentralized peer-to-peer messaging app developed by Block CEO Jack Dorsey, has been removed from Apple’s App Store in China for allegedly violating its internet service regulations.
In an X post on Sunday, Dorsey shared a screenshot from Apple’s app review team informing him that Bitchat had been removed from the App Store in February and that the TestFlight beta version would no longer be available in China at the request of the Cyberspace Administration of China (CAC).
“Bitchat pulled from the China App Store,” he said.
Bitchat has seen its popularity rise during protests in Madagascar, Uganda, Nepal, Indonesia and Iran in recent months, as governments attempted to shut down regular communication channels and internet access to curb dissent.
The peer-to-peer encrypted messaging service runs entirely over Bluetooth and mesh networks and operates without an internet connection, which could put it at odds with China’s internet-censorship-prone regime.

Bitchat violated internet regulator’s provision
The CAC argued Bitchat violated Article 3 of its regulations governing online services with public opinion or social mobilization capabilities, which came into force in 2018.
Under the provisions, any online services that could influence public opinion or enable social mobilization are required to conduct a security assessment before launch and “be responsible for the assessment results,” according to a Google Translate version of the regulations.
The app review team also said all apps on its store must comply with local requirements in the countries where they are available.
Related: Dorsey shares AI-integrated workplace vision weeks after Block’s 40% staff cut
“We know this stuff is complicated, but it is your responsibility to understand and make sure your app conforms with all local laws, not just the guidelines below. And of course, apps that solicit, promote or encourage criminal or reckless behavior will be rejected,” they added.
Still available in other countries
Despite being pulled in China, Bitchat remains available in other countries, according to Apple’s app review team.
Chrome download stats show the app has been downloaded more than three million times, with more than 92,000 in the past week. The Google Play Store has recorded more than one million registered downloads.
However, neither specifies which regions were responsible for the bulk of downloads.
By comparison, WeChat, developed and operated by Tencent, one of China’s largest tech companies, has an estimated 810 million users in China, out of a national population of more than 1.4 billion.
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Crypto World
Xandeum Launches STOINC on Mainnet, Introducing Usage-Based Storage Income for Web3
Xandeum, a scalable, smart contract-native storage layer for Solana, has officially launched STOINC (Storage Income) on mainnet.
With STOINC now live, Xandeum introduces a usage-driven, on-chain storage economy, enabling applications, node operators, and the broader network to participate in value creation tied to actual storage demand.
Unlike traditional reward mechanisms that rely on token emissions, STOINC is powered by actual storage usage. Every interaction with the Xandeum storage layer generates fees that are collected and distributed across the network.
At the end of each cycle, storage fees are distributed across the Xandeum network economy, rewarding pNode participation, supporting staking incentives as they come online, and funding continued ecosystem growth.
“Storage must become a first-class citizen in Web3,” said Bernie Blume, Founder of Xandeum. With mainnet live and community pNodes already online, STOINC marks the beginning of a usage-based storage economy designed to support the next generation of storage-enabled dApps on Solana. “With STOINC, we’re moving beyond theory into real usage, where storage activity directly translates into economic value.”
The launch addresses a key limitation in blockchain infrastructure: scalable, native storage for smart contracts. By enabling this, Xandeum supports a new category of applications known as storage-enabled dApps (sedApps).
Upcoming developments include XAND staking to pNodes, deployment of native applications, and expansion into enterprise use cases.
As Web3 evolves toward real-world utility, scalable storage becomes critical infrastructure. STOINC positions Xandeum as a key player in this transition, where usage drives value creation.
About Xandeum
Xandeum is building a scalable, smart contract-native storage layer for Solana, enabling decentralized applications to access large-scale storage with seamless integration.
The post Xandeum Launches STOINC on Mainnet, Introducing Usage-Based Storage Income for Web3 appeared first on BeInCrypto.
Crypto World
Bitcoin must retake $75,000 or risk annihilation to $10,000, analyst says
A familiar voice is back with a familiar, and controversial, call on bitcoin .
Mike McGlone, senior commodity strategist for Bloomberg Intelligence, is reiterating that bitcoin could crash to $10,000.
But this time, he’s framed it with a very clear line in the sand: $75,000.
If bitcoin decisively reclaims and holds that level, the bearish thesis breaks. If it can’t, McGlone’s view is that the path of least resistance is sharply lower, with prices falling all the way to $10,000, the level last seen in early 2020.
The $10,000 magnet
McGlone’s uber bearish forecast of a crash to $10,000 isn’t new. It’s been circling for weeks, and it is based more on market structure than short-term catalysts.
The cryptocurrency spent a long stretch hovering around $10,000 before the massive wave of fiat liquidity hit the markets following the coronavirus-induced 2020 crash. That era of zero rates, stimulus checks and aggressive liquidity easing by central banks torched unprecedented risk-taking across all corners of the financial markets. It played a major role in lifting BTC permanently above $10,000.
“Before the biggest money pump in history in 2020-21, Bitcoin hovered around $10,000, and it may be reverting. Roughly $10,000 is also the first-born crypto’s most traded price since 2017, when futures were launched,” McGlone noted on LinkedIn.
With that era of abundant liquidity now behind us, McGlone suggests that bitcoin may revert to what he considers its equilibrium price — around $10,000.
According to him, $10,000 has been the most heavily traded price zone since 2017, when the CME futures began trading. In other words, $10,000 isn’t just a round number — it’s where a huge amount of historical volume sits.
McGlone also points to the crypto market’s explosive growth as a potential drag on bitcoin. In 2017, bitcoin largely defined the space, but today, millions of tokens compete for attention and drain capital away from the industry leader. In his view, that surge in supply has become a structural headwind rather than a tailwind.
“Unlimited crypto supply and use-case rivals are Bitcoin headwinds,” McGlone said on LinkedIn, adding that stablecoins represent “the most enduring trend” in crypto. He expects ether to become bigger than ether and eventually bitcoin.
“I expect the ‘flippening’ to continue, with Tether’s AUM topping Ethereum in 2026 and eventually Bitcoin,” he said.
The $75K invalidation level
McGlone’s bearish forecast hinges on prices staying below $75,000. This level has been a major turning point for market trends over the past 12 months. The March-April 2025 slide ran out of steam at around $75,000, while the early 2024 rally stalled there. Furthermore, $75,000 corresponds to key Fibonacci retracement levels.
Think of it as a market verdict threshold. A sustained move above it would suggest that bitcoin has re-established strong structural demand, ending the downtrend that began at October highs above $126,000. It would imply that institutional flows, macro conditions, or both are strong enough to override his reversion thesis.
Fail to get there — or get rejected again — and the argument flips: bitcoin may still be trapped in a longer-term decline to $10,000.
Crypto World
Franklin Templeton Launches Crypto Unit Amid Market Slump
Franklin Templeton is setting up a standalone cryptocurrency division by acquiring 250 Digital, a firm spun off from venture capital outfit CoinFund earlier this year.
The $1.7 trillion asset manager is making its boldest digital-asset move yet, targeting pension and sovereign wealth funds.
What Franklin Templeton Is Building
The unit will operate under the name Franklin Crypto. Christopher Perkins and Seth Ginns, both former CoinFund executives, will run day-to-day operations. Sandy Kaul, who leads innovation at Franklin, will oversee the group.
Franklin has been in crypto since 2018 and currently employs more than 50 digital asset specialists. The firm already offers a bitcoin ETF and runs a tokenized money-market fund on Binance. This acquisition shifts its strategy from passive products toward actively managed institutional offerings.
Timing matters here. Bitcoin has shed roughly 45% since crossing $126,000 last fall. About $2 trillion has evaporated from total crypto market capitalization. Franklin’s leadership appears to view the downturn as a window to consolidate talent and build infrastructure cheaply.
Paying With Tokens
Perhaps the most unusual aspect is the payment structure. Franklin will use BENJI tokens, backed by its blockchain-based government money fund, to cover part of the purchase price. That makes this one of the first corporate acquisitions partially settled on-chain.
The deal should close by mid-2026. No financial terms were released.
The post Franklin Templeton Launches Crypto Unit Amid Market Slump appeared first on BeInCrypto.
Crypto World
New Crypto: Pepeto Hits $8.68M Racing Past Shiba Inu Numbers While Ethereum Price Prediction Eyes $10,000
The ethereum price prediction keeps drawing attention as ETH sits at $2,024, down 58% from its $4,953 high. Standard Chartered holds a $7,500 year-end target, and Arthur Hayes projects $10,000 to $20,000 before this cycle ends. Over 30% of ETH supply now sits in staking, the Foundation completed its 70,000 ETH target this month, and institutional infrastructure keeps growing.
The best way to understand the opportunity is to examine the ethereum price prediction, look at the path to $10,000, and see why wallets are rushing into Pepeto before the listing closes the window. Pepeto is built on Ethereum with the goal of solving the problems that still limit the network, and the presale just crossed $8.68 million at a pace that mirrors what Shiba Inu did before its breakout.
Ethereum trades at $2,024 on April 5 after snapping a six-month losing streak in March, per CoinMarketCap. The Foundation locked $143 million in ETH into staking instead of selling, cutting one of the biggest sources of sell pressure in the market, per CoinDesk.
The ethereum price prediction sits on the $2,000 level. Holding it opens $2,500 and then $3,000. Standard Chartered holds $7,500 for year end, and Hayes calls for $10,000 to $20,000 before the cycle peaks.
At $10,000, ETH’s market cap would reach roughly $1.2 trillion, a level that needs strong post-halving dynamics and broad macro recovery but sits within reach if institutional adoption continues at this pace. With 30% of supply staked and the Foundation no longer selling, the structural case for higher prices keeps improving.
That long-term direction benefits Pepeto directly. On-chain data shows that several of the biggest presale buys trace back to ETH whale wallets, addresses that know this blockchain inside out.
New Crypto Pepeto Fixes Ethereum Pain Points With Exchange Tools Built by Experts
Pepeto targets the problems draining Ethereum wallets every day. Ethereum gas fees eat into small trades before they even fill. Pepeto built an exchange layer that processes trades inside the protocol so traders pay zero fees.
PepetoSwap handles every swap at zero cost using the way Binance powers its ecosystem with BNB, where the token drives the engine.
The cross-chain bridge moves assets between Ethereum, BNB, and Solana at zero cost, so holders across chains combine positions without losing capital. The contract scanner checks every token before capital commits, catching traps that cost users $1.3 billion in 2025.
SolidProof verified the full codebase, a former Binance executive shaped the platform, and the founder who took the original Pepe token to $11 billion on a 420 trillion supply designed the entire exchange. Staking at 188% APY compounds positions while the listing gets closer.
Why Crypto Presales Have Always Produced the Biggest Returns and Where Pepeto Fits
For context, the best example is Ethereum itself. ETH went to market at $0.31 in its presale and climbed to $4,953, converting every $1,000 position into more than $15 million. The wallets that got in at that stage made the returns most investors spend whole careers trying to match, and the only thing behind Ethereum at that point was a whitepaper and a handful of developers.
Pepeto runs a stronger presale setup: $8.68 million in committed capital, the founder of the original Pepe coin and a former Binance executive running the build, with live tools generating real demand for the token from day one. The crypto market today is ten times bigger than the one Ethereum entered in 2015, and reaching just a small fraction of Ethereum’s $233 billion market cap would deliver 100x or beyond from the current entry of $0.0000001862.
The biggest presale winners in crypto history all shared one moment: the crowd was frozen in fear while they quietly loaded, and Pepeto at $0.0000001862 with a Binance listing weeks away is that moment playing out right now.
Conclusion
The ethereum price prediction points to new highs long term, and when ETH rallies, the projects running on its network have historically beaten it every single time. That is exactly where Pepeto sits right now. The presale crossed $8.68 million with the Binance listing close enough that stages sell in days, and investors who saw Shiba Inu turn small wallets into millions in 2021 are looking at Pepeto and seeing the same signals.
Presales have always ranked as the highest-return entries in crypto. With ETH proving presale potential at $0.31 to $4,953 and Shiba Inu proving meme coins can deliver massive returns, the data behind Pepeto points to a setup where small entries could produce outsized gains for those who move before listing.
Click To Visit Pepeto Website To Enter The Presale
FAQs
Can Ethereum reach $10,000 based on the ethereum price prediction?
Possible if post-halving momentum and institutional adoption accelerate. $10,000 means $1.2 trillion market cap, realistic by 2027-2028.
Which is the best new crypto presale to buy now?
Pepeto leads with $8.68 million raised, SolidProof audit, Pepe founder, and Binance listing at Pepeto official website.
Where is the ethereum price prediction heading in 2026?
Standard Chartered targets $7,500, Hayes projects $10,000 to $20,000. ETH must hold $2,000 for recovery to begin.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Crypto World
Rwanda Warns Against Bybit FRW to Crypto Offering
The National Bank of Rwanda (NBR) has warned the public that crypto payments and trades using the local currency remain illegal in the country after Bybit added support for the Rwandan franc for its peer-to-peer platform on Friday.
“Crypto-assets are NOT authorized for payments, FRW conversion, or P2P trading involving FRW under the current framework,” the central bank posted to X on Sunday, urging citizens to avoid crypto due to “serious financial risks and no recourse in case of loss.”
The central bank’s comments were in response to an X post from Bybit on Friday, stating that the Rwandan franc (FRW) can be used to buy and sell crypto through its Bybit P2P service.

In a separate X post, the NBR noted that the FRW “remains the only legal tender in Rwanda” and that “NBR-licensed financial institutions are prohibited from converting FRW into crypto-assets or vice versa.”
Cointelegraph reached out to Bybit for comment but did not receive an immediate response.
Rwanda has been trying to strengthen the FRW’s presence in the country with a central bank digital currency, the e-franc rwandais, which is currently in the proof-of-concept stage and may progress to a pilot phase.
Rwanda is one of many countries that have pushed back against crypto services in an effort to preserve monetary sovereignty and have more control over its financial system, restricting crypto use since 2018.
Incoming crypto regulation seeks to further restrict crypto
However, in March, Rwanda’s Capital Market Authority released a draft framework to regulate virtual asset service providers, a step it said would promote “responsible innovation.”
Related: Taiwan should reconsider Bitcoin reserve in case of war, says think tank
The bill, which is making its way through Rwanda’s legislature, seeks to prohibit crypto as legal tender while banning crypto mining, mixer services and tokens pegged to the FRW.
It also seeks to provide a pathway for crypto service providers to operate under a license and supervision.
Data from blockchain analytics firm Chainalysis shows Rwanda ranks low in crypto adoption during 2024 and 2025, with locals receiving only a fraction of the crypto value seen in higher-adopting African countries like Nigeria and South Africa.

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Crypto World
Japan’s Bond Crisis Is Quietly Strangling Bitcoin’s Rally
Rising Japanese bond yields are quietly draining global liquidity, and Bitcoin is caught in the crossfire.
That’s the core argument from XWIN Research’s latest analysis, which connects Japan’s surging government bond yields to Bitcoin’s sluggish price action.
How Japan’s Bond Market Hits Bitcoin
Japan’s 10-year bond yield recently hit 2.39%, its highest level since 1999. With roughly ¥390 trillion in government bond holdings, even a 1% rise in yields can trigger tens of trillions of yen in unrealized losses for banks, insurers, and pension funds.
These institutions must then shore up their balance sheets. That means selling risk assets and pulling capital home. Since Japan is the world’s largest foreign creditor, this repatriation shrinks liquidity everywhere.
Bitcoin, as a risk asset, depends heavily on global liquidity. History shows it rises during easy-money periods and stalls when rates climb. The current environment fits that pattern.
Stablecoin data adds nuance. ERC-20 stablecoin supply has returned to all-time highs, suggesting plenty of sidelined capital exists. Yet that money is not flowing into Bitcoin. Early 2026 saw roughly $9.6 billion exit BTC, with funds rotating into stablecoins instead.
Why This Matters Now
Rising rates do more than create selling pressure. They raise borrowing costs, reduce leverage, and discourage new capital from entering risk markets. The yen’s relative strength also pulls funds away from dollar-denominated assets, including crypto.
XWIN Research argues that understanding Bitcoin now requires looking beyond on-chain metrics. Rates, currencies, and capital flows tell the deeper story.
The post Japan’s Bond Crisis Is Quietly Strangling Bitcoin’s Rally appeared first on BeInCrypto.
Crypto World
Trump’s Hormuz Ultimatum Sends Oil Past $110, Highest Since March
Oil prices extended gains in early Asian trading on Monday as President Donald Trump sharply escalated threats against Iran. He vowed to strike power plants and bridges unless Tehran reopens the Strait of Hormuz by Tuesday.
The latest ultimatum signals that the six-week-old conflict is entering a more dangerous phase with no diplomatic off-ramp in sight.
Trump’s Ultimatum: ‘Power Plant Day, and Bridge Day’
In a social media post, Trump declared Tuesday would be “Power Plant Day, and Bridge Day” and demanded Iran “open the f—ing Strait,” warning Tehran would “be living in Hell.” The unprecedented language signals Washington’s growing frustration with stalled diplomacy over the critical waterway.
Brent crude climbed above $111 a barrel, up 1.9%, while West Texas Intermediate traded near $112 during the Asian morning session. Tehran rejected the demands, and the Strait of Hormuz remains closed to most shipping traffic. The war has triggered a supply shock now threatening to become a full-blown global energy crisis.
Rising oil and fuel prices are stoking inflation, slowing economic growth, and squeezing businesses and consumers worldwide. US gasoline pump prices have risen by roughly $1 per gallon since the conflict began. Analysts expect the March consumer price data on Friday to show the sharpest monthly increase since 2022.
OPEC+ members approved a modest 206,000 barrel-per-day output increase for May after a weekend meeting. However, the move was largely symbolic, as key producers cannot increase output due to the war. Russian supply has also been disrupted by Ukrainian drone strikes on its Baltic Sea export terminal.
Market stress indicators are flashing red. Brent’s prompt spread widened beyond $10 a barrel in backwardation. That gap exceeds peaks seen during Russia’s 2022 invasion of Ukraine. Physical market prices tell an even starker story. Dated Brent surged past $140, reaching levels not seen since 2008.
Diplomacy Stalls as Attacks Continue
Iran has officially told mediators it will not meet US officials in Islamabad, and ceasefire efforts have stalled. Tehran has allowed limited passage through the Strait of Hormuz for select vessels from countries it deems friendly. Iraq received an exemption from Iran’s shipping curbs, though carriers remain cautious about entering the strait. Oman said it discussed options with Tehran to restore shipping flows.
Global buyers are now aggressively bidding for alternative crude supplies from the US Gulf Coast and the North Sea. Israeli strikes continued across Iran over the weekend, while Tehran hit Kuwait Petroleum Corp. headquarters and shut down an Emirati petrochemicals plant.
Asian equity markets opened cautiously. Japan’s Nikkei rose 0.7% and South Korean shares gained 2%. Gold fell about 1% to around $4,630 as surging energy costs undermined expectations of interest rate cuts.
The post Trump’s Hormuz Ultimatum Sends Oil Past $110, Highest Since March appeared first on BeInCrypto.
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