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Something interesting is happening. It seems that Trump is going to make an important announcement about the Strait of Hormuz tonight (8 PM Eastern Time), and this appears to be affecting the Bitcoin market.
When geopolitical risk factors emerge, Bitcoin always reacts. It’s the same pattern this time, with the market breaking through $69,000 and then looking at the possibility of reaching $75,000. It’s hitting its highest level in over 10 days, so the trend is clearly upward.
Personally, I think that increased geopolitical uncertainty tends to make assets like Bitcoin more attractive to buy. When traditional financial markets shake, they serve as alternative assets.
The movement after breaking through the $69,000 level is really crucial. How it develops from here will reveal the next target. Tonight’s announcement is definitely worth watching.