Brent above $100 and Iranian fees sustain energy pressure amid neutral Fed rhetoric

Bitcoin trades at a modest premium to cost basis while exchange inflows and miner caution signal distribution risk into already elevated energy costs. The ignored tension is that sustained Brent above $100 and Fed symmetry talk keep dollar liquidity stable only so long as commodity spikes do not force earlier tightening than markets price. If Iranian transit fees and secondary sanctions persist without a visible de-escalation path, does the resulting inflation premium tighten global conditions faster than Bitcoin’s current positioning can absorb?