BTC finds buyers at $71,219 and US data gives signals of a slowdown in the economy. White House Senior Advisor Hassett made important statements about the current state of the economy. The situation of the Strait of Hormuz also becomes clear with the latest news.
White House and Iran
white house Senior Advisor Hassett says that despite the war, the US economy will grow by 4-5%. Arguing that Trump has the right to impose a 50% customs duty on countries that supply weapons to Iran, based on the authority granted by IEEPA, Hassett fed concerns about inflation. The highlights of his speech are as follows:
“(50% tariff) If countries are helping our enemy, Trump will take action.
Interest rates should be lower. The shrinking of the Fed’s balance sheet should be gradual.
Ships pass through the Strait of Hormuz. If the Strait of Hormuz opens, I will see normalization in the oil market soon. Asia is experiencing serious problems due to the depletion of its oil. In the USA, the situation was much less traumatic. Once the Strait of Hormuz opens, gasoline prices will fall relatively quickly.
“We have held discussions with our allies regarding guaranteed supplies of US oil.”
According to diplomats NATO Secretary General Rutte informed member states that Trump wants concrete commitments to ensure the security of the Strait of Hormuz in the next few days. Trump has been making divisive statements about NATO for a long time.
EU Foreign Minister Kallas said that the ceasefire between the USA and Iran is fragile, but the other option is depressing.
According to TASS, based on senior Iranian officials, a maximum of 15 ships per day will be allowed to pass through the Strait of Hormuz within the scope of the ceasefire.
Iranian Deputy Minister of Foreign Affairs said;
“Our delegation will go to the peace talks in Islamabad. The USA must stop Israel’s attacks on Lebanon. Any peace in the region must include Lebanon, the coming hours are very critical. Iran was about to respond to the ceasefire violation last night, but Pakistan intervened.”
The current situation is briefly like this and Bitcoin is above 71 thousand dollars with cautious optimism.
Bitcoin (BTC)
Yesterday From Bitcoin ETFs There was an exit of 93 million dollars and the sales, which started on April 7, continue. Due to the fragility of the ceasefire, it is likely that we will see an outflow today, but the spot price continues to remain above 71 thousand dollars.
lingering in the canal for 67 days BTC price Although he is moving towards breaking, he has not been able to stay above the midfield long enough so far. First of all, it needs to test $75,800 with a weekly close above $70,000. Although the bottom of the channel was tested twice, it reached resistance only once in 67 days.
A rapid reversal of the sales triggered at the beginning of February will be possible when the war ends and Warsh takes Powell’s seat next month and accelerates QE (at least the market is put to this expectation). Otherwise, deeper bottoms below $60,000 are possible for BTC. BTC, which broke the previous channel in 79 days, does not have much time left.
