Bitcoin Price Dips, Oil Soars to Local Peaks as Trump Vows to Open Strait of Hormuz: Weekly Recap

It was another eventful week, mostly focused on the developments in the Middle East, which continue to intensify and impact numerous assets’ price moves, including bitcoin and oil. Before and after our Market Update from last Friday, bitcoin’s price was already struggling, dropping from a weekly high of $72,000 marked a few days ago to $65,600 as the tensions built. It managed to remain relatively quiet o…