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Oil is starting to regain strength.
WTI has pushed back towards intraday resistance after renewed tensions around the Strait of Hormuz.
So far, buyers are still stepping in.
A clean break above this level would suggest markets are beginning to price in a higher geopolitical risk premium.
If oil keeps climbing from here, it's something Bitcoin traders should be paying attention to.
Higher oil prices don't just impact energy, they can quickly spill over into broader market sentiment.