Exchange inflows rise while oil volatility stays contained

Bitcoin sits near 70,300 dollars after fresh exchange inflows of several thousand coins, a move that aligns with MVRV near cost basis and extreme fear readings yet shows no broad buyer step-up. The ignored contradiction is that a shipping choke point in the Strait of Hormuz has lifted oil above 94 dollars and tightened importer finances, yet dollar stability and contained equity volatility keep risk assets from repricing the energy squeeze into broader monetary stress. The open question is how long net inflows to exchanges can continue before they force price to test the next support level below 68,000.