Strait of Hormuz's Impact on Bitcoin Prices

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 hours ago

TRUMP-5.281%

BTC-2.083%

Should l Buy TRUMP?

Price Surge Trigger: Bitcoin's price surged from $76,000 to nearly $78,000 within hours due to an Iranian official's announcement regarding the Strait of Hormuz, but the subsequent reversal of that announcement caused a rapid decline, highlighting the market's sensitivity to geopolitical news.
Oil Price Correlation: The Strait of Hormuz is the world's most critical oil transit chokepoint, with approximately 17 million barrels passing through daily; fluctuations in oil prices directly impact inflation expectations, which in turn influence the Federal Reserve's interest rate decisions and Bitcoin's investment appeal.
Market Reaction Mechanism: When Iran's Foreign Minister declared the Strait

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like TRUMP with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

Technical Analysis for TRUMP

Technical Sentiment Analysis for OFFICIAL TRUMP (TRUMP). As of , OFFICIAL TRUMP (TRUMP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for TRUMP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, TRUMP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

OFFICIAL TRUMP (TRUMP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	2.389	2.58	2.737	2.928	3.085	3.276	3.433
Fibonacci	2.58	2.713	2.795	2.928	3.061	3.143	3.276

About TRUMP

$TRUMP are now freely tradeable on the blockchain. On July 13, 2024, President Trump faced death and came up fighting! With his fist in the air and the iconic battle cry FIGHT FIGHT FIGHT, President Trump showed the world what a LEADER is made of. His strength and courage ignited a movement becoming the most memorable meme of the century.Now, you can get your piece of history. This Trump Meme celebrates a leader who doesn’t back down, no matter the odds. Join the Trump Community - we’re all about fighting for what matters.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

GET FREE REAL TIME NOTIFICATIONS

Stock Monitor for TRUMP?

Get Started Free

FREE STOCK RECOMMENDATIONS DAILY

Stock Bullish Tomorrow

Get Started Free

70% BACKTESTED ACCURACY!

Should I Buy TRUMP?

Get Started Free