Key Takeaways:

• The likelihood of Iran blocking the Strait of Hormuz has increased following recent U.S. airstrikes on its nuclear facilities.
• The chance of closure by June 30 is now at 40%, with a 52% probability by year-end.
• Such an incident could cause oil prices to rise dramatically, potentially reaching $120-$130 per barrel, leading to stagflation.

As of now, Bitcoin remains above $100K, holding steady despite market volatility.

“The bully of the Middle East (Iran) has been urged to make peace, following airstrikes targeting critical Iranian nuclear sites.”

Approximately 20 million barrels of oil are transported through the Strait of Hormuz daily, representing around 20% of global oil consumption, thereby any potential closure could lead to severe global oil price shocks.

JPMorgan analysts suggest that closing the Strait could send crude oil prices soaring to an astonishing $120 to $130 per barrel.

With ongoing geopolitical tensions, the cryptocurrency market has yet to show signs of panic, as Bitcoin trades above $100,000, based on CoinDesk data.