BlockBeats News, March 9th, Binance Research posted on social media that Brent crude oil has already priced in the long-term risk of the closure of the Strait of Hormuz around $110. Despite ongoing geopolitical tensions, various policies and market mechanisms have not fully kicked in, limiting further upside potential for oil prices, with a range-bound scenario likely in the near term. If oil prices remain range-bound, the “stagflation” narrative reliant on rising oil prices may weaken, potentially easing the macro pressures faced by risk assets including cryptocurrencies. With selling pressure bottoming out, the crypto market is expected to find support or experience a rebound.
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