If it doesn't fall, it will definitely rebound. Stocks and gold are falling, so why isn't crypto dropping? The key factor is crude oil! Iran's blockade of the Strait of Hormuz caused crude oil to surge 12.5% in the past 3 days, increasing industrial production costs. As a result, the US manufacturing and transportation sectors led the decline yesterday, but the US dollar index rose by 1.1%. US wars serve the dollar; when the dollar is strong, crypto benefits.
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March 4th Cryptocurrency Market.
If it doesn't fall, it will definitely rebound. Stocks and gold are falling, so why isn't crypto dropping?
The key factor is crude oil! Iran's blockade of the Strait of Hormuz caused crude oil to surge 12.5% in the past 3 days, increasing industrial production costs. As a result, the US manufacturing and transportation sectors led the decline yesterday, but the US dollar index rose by 1.1%.
US wars serve the dollar; when the dollar is strong, crypto benefits.