Bitcoin to be used for Hormuz tolls?
Bitcoin is now back at range highs, hovering slightly below $75,000. We find the current regime supportive of a breakout, with clear signs of persistent pessimism in derivatives amid a series of positive institutional launches and announcements.
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The situation in the Strait of Hormuz has also gained direct relevance for Bitcoin beyond general risk sentiment. Iran’s Oil Union has proposed a $1 per barrel toll on oil shipments through the Strait of Hormuz, payable in yuan or Bitcoin. With approximately 7.3 billion barrels passing through the strait each year, this could translate into demand equivalent to around 100,000 BTC annually under heavy assumptions. While the proposal remains uncertain, it signals how Bitcoin could gain relevance as geopolitical fragmentation continues.Still idle conditions on CME
CME front-month futures premiums have risen to around 7% after a strong weekly open, with ETH futures trading at a premium to BTC for the first time since mid-March. While near-ter