Written by: 1912212.eth, Foresight News
On the evening of June 22, Khosari, a member of the Iranian Parliament's National Security Committee, stated that the parliament has concluded that the Hormuz Strait should be closed, but the final decision lies with Iran's Supreme National Security Council. As soon as the news was released, BTC dropped from $102,810 to below $100,000, eventually falling to $98,200, and has now recovered to around $100,800. ETH once fell to $2,111, experiencing a fourth consecutive daily decline. SOL dropped to $126, with a 24-hour decline of 3.45%, and other Altcoins also generally declined.
According to contract data from Coinglass, the network's 24-hour liquidation reached $658 million, with long liquidations accounting for $526 million. The largest single liquidation occurred on HTX - BTC-USDT, valued at $35.45 million.
The market changed suddenly, Bwith falling below100,000. Will Iran really close the hormHormStrait?
The Hormuz Strait is located between And Oman, connecting the Gulf of Oman in the east and the Persian Gulf in the west. It is the only maritime passage for oil exports from the Gulf region, with about one-third of global maritime oil trade passing through the Hormuz Strait. Iran controls many highlands, caves, and key islands on the western coast of the Hormuz Strait, such as Hormuz Island, Fares Island, and Rak Island. Once ordered to be blocked, it can immediately establish a "layered fire blockade network".
Historically, Iran has threatened to block the Hormuz Strait multiple times but never truly implemented it. For example, during the Iran-Iraq War in Iraq War in the s, threatened but ultimately did not fully implement it. In recent years, after the US withdrew from the Iran nuclear agreement and restored sanctions, Iran has also issued similar threats multiple times.
's economy heavily depends on energy exports through the Hormuz Strait. If the the's economy would be severely damaged, people's lives would become more difficult, potentially potentially accelerating the regime's legitimacy crisis. Additionally, blocking the strait would seriously worsen Iran's foreign relations, making it more isolated in the international community.Dr. Liu Qiang, vice president and academic committee director of the Shanghai East Asia International Strategic Research Center, said, "If Iran is rational, they will most likely not decide to block the strait. Blocking the strait would do more harm than good to Iran. Currently, the international community is sympathetic to Iran. Once implemented, it would only provoke opposition from various countries and reverse the international public opinion favorable to them."
US Vice President Vance stated stated, "Iran's attempt to block the Hormuz Strait would have a suicidal effect on their economy. In his view, Iran is unlikely to make such a decision."
Trump stated on his social platform Truth on June 23 , "Using Using the term 'regime change' is politically inappropriate, but if the current Iranian regime cannot make Iran great again again again can't a regime change happen? MIGA"
choice will Iran ultimately make? The market is is with bated><.Is the crypto bull market still ongoing? Is it now suitable to buy the dips?p trader Eugeneuge Ah Sio posted on his personal channel last night at 10 PM, "I have opened long positions quite aggressively, including Bitcoin and some Altcoins. I believe that the bombing earlier today, the the closure of the Hormuz Strait, is a consecutive blow to early bulls, which is enough to to wash the market. Now is it's the buy. If the directly jumjumps to $$95,000, then it can only be said 'good night', but this is the last battle for bulls, and I am in position."p>
If demand demand continues to be weak find support around $92,,000, which which corresponds to traders' on-chain actual cost price and is a typical support zone during the bull market. If this support If this support fails,, the next support port could be at $81,000, near near the lower bound of traders' on-chain actual cost price.<-chain Murphyeted although ETH price has retraced nearly 20% from its high, he still does not believe this is the best time to buy to to the From the profitable supply percentage data, it can be seen that current seen 55%, meaning that even at this price 55% of circulating chips are still in profit. From historical data, only when when a majority of circulating chips are in a loss state would it be a more cost-effective time to buy the.Mike Novogratz tweeted that the next 72 hours are crucial, but if Iran has no real counterattack, the market will rise significantly by the weekend.
