Oil shock and exchange inflows test Bitcoin supply balance

Bitcoin faces sustained exchange inflows of roughly one thousand BTC that expand available supply without matching demand growth. This distribution pressure coincides with geopolitical escalation in the Strait of Hormuz that lifts energy costs and tightens global financial conditions through higher yields and a firm dollar. The contradiction sits in the network metrics showing no acceleration in usage or builder activity even as macro stress intensifies. Most ignore how these inflows test the 64000-65000 range directly while oil shocks compress margins for non-energy assets without delivering Bitcoin-specific demand. The setup leaves open whether sustained inflows will force a retest lower or whether macro tightening simply keeps prices range-bound until clearer resolution emerges on either front.