Oil surge and exchange inflows test Bitcoin positioning amid Hormuz escalation

Bitcoin faces fresh distribution pressure from exchange inflows while oil spikes on renewed Hormuz conflict, yet macro liquidity shows no corresponding stress. Gold holds near 4013 dollars and the dollar index near 101 without flight-to-safety acceleration, leaving the risk premium on non-sovereign assets untested in practice. The core tension sits in whether higher energy costs will translate into tighter financial conditions or remain contained as a regional shock, and no clean data yet resolves whether miners or holders will absorb the next selling wave without forcing further price discovery lower.