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How Middle East Conflict Affects Crypto Through Oil and Inflation
Senior Market Analyst Jonatan Randin from PrimeXBT explains how disruptions in the Strait of Hormuz, involving the U.S. and Iran, have influenced oil prices, inflation, and Federal Reserve interest rates, impacting Bitcoin's price movements. Oil flows have been limited since the conflict began in February, with Brent crude reaching a high of around $118 in March and currently trading around $105. This has led to a 40.5% increase in U.S. fuel prices by May, contributing to headline inflation of 4.2% in June, following a ceasefire period.