Oil holds above 100 dollars as Bitcoin outflows stall without lift.

Energy shocks from sustained US strikes on Iran and tanker attacks have driven Brent above 100 dollars, tightening liquidity through higher imported costs while central banks stay on hold. Bitcoin sits compressed near 65,000 dollars on thin outflows that fail to generate follow-through buying, even as MVRV at 1.23 leaves holders without room for aggressive selling. Network metrics show stable but uninspired hashrate near 900 EH/s ahead of a likely difficulty dip, underscoring infrastructure resilience without price transmission. The ignored tension sits in equities where VIX has climbed sharply to 18.70 on the same energy volatility, yet risk assets show little spillover into crypto positioning. What happens to exchange balances if oil stays elevated and funding stress migrates further into term rates?