Strait of Hormuz: Wall Street's "Immunity" Is Premature



The Real Impact of Geopolitical Shocks

On April 12, the second round of US-Iran talks in Islamabad ended in failure, and Trump subsequently announced the blockade of the Strait of Hormuz. This strait accounts for about 25%-30% of global oil trade, and combined with Iran and the Houthi forces' synchronized blockade of the Bab el-Mandeb Strait, the crude oil supply gap is approximately 6.2 million barrels per day. If both straits are blocked, oil prices could structurally surge to $130.

Goldman Sachs warns: If the Strait of Hormuz remains closed for a month, Brent crude oil's average price for the year could surpass $100; if the closure lasts longer, the third-quarter average could reach $120.

Why the Crypto Market Shows "Resilience"

After geopolitical news broke, Bitcoin briefly fell from $74,000 to around $70,000, but implied volatility and risk reversal indicators have already fallen back to pre-conflict levels. Market focus is shifting from geopolitical headlines to execution details, as multiple delays in Trump’s blockade policy have made policy credibility itself a trading variable.

The cryptocurrency market appears to be "immune," but the root causes may be: first, the market has already partially priced in the expectation of a ceasefire; second, institutional buying as a structural force is absorbing short-term panic selling (BlackRock’s IBIT saw net inflows of $612.1 million last week); third, rising oil prices boost inflation expectations, which in turn weaken the market’s anticipation of a quick Fed rate cut. There is a complex mutual offset between geopolitical shocks and macro logic.

The risk is: if energy costs remain high, inflation expectations will force the Fed to maintain higher interest rates for longer. At that point, the negative feedback loop of "rising oil prices → rising inflation → delayed rate cuts → pressure on risk assets" will fully activate. The narrative of Wall Street's "immunity" has not yet been truly validated. #Gate广场四月发帖挑战
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LittleGodOfWealthPlutus
· 5h ago
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Beeman
· 5h ago
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· 5h ago
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· 6h ago
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HighAmbition
· 6h ago
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