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Brent crude hits $100 amid Strait of Hormuz risks; Bitcoin sees $11.6B OTC buy as institutions seek inflation hedge.

Market News
29 Mar 2026
Blockonomi
View Source
Neutral
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Brent crude oil has stabilized around $100.66 per barrel due to geopolitical tensions at the Strait of Hormuz, threatening about 30% of global oil supply. Meanwhile, Bitcoin is trading near $66,340 after a recent decline, with institutions moving $11.574 billion through over-the-counter (OTC) desks to lock supply as a strategic reserve against inflation fears. Bitcoin's $65K–$70K support zone holds a 65% chance of stability unless a major credit market collapse occurs, with April 6th flagged as a potential risk date for liquidity stress. This scenario highlights Bitcoin's unique advantage as a digital asset unaffected by physical supply chain disruptions, contrasting with oil's vulnerability to geopolitical blockades.

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