Key Takeaways:
Bitcoin peaked at $82,458 on Sunday before retreating and consolidating under $82,000.Nearly $135 million in bitcoin positions were liquidated as Trump’s rejection of Iran’s deal flattened markets.Aramco CEO Amin Nasser warns that a blocked Strait of Hormuz could delay oil normalization until 2027.While Trump’s rejection of the Iranian proposal and subsequent social media posts saw Brent crude oil prices tap $105 per barrel, the most chilling comment on the impact of the oil supply chain disruption came from Aramco CEO Amin Nasser. Speaking to investors on the company’s first-quarter earnings call, Nasser warned that oil markets are unlikely to normalize this year should traffic via the Strait of Hormuz remain blocked.
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