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Risk Aversion Dents Cryptos; Bitcoin Briefly Below US$100,000
Bitcoin briefly shattered below US$100,000 at one point, last reported at US$100,832, down 1.5%, with an intraday low of US$98,525. Ethereum also sagged 1.3% to US$2,239, with an i...
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Risk Aversion Dents Cryptos; Bitcoin Briefly Below US$100,000
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Bitcoin briefly shattered below US$100,000 at one point, last reported at US$100,832, down 1.5%, with an intraday low of US$98,525. Ethereum also sagged 1.3% to US$2,239, with an intraday low of US$2,132.

The market was concerned about Iran blocking the global oil transportation route, the Strait of Hormuz, following a US military strike on its nuclear facilities, sparking risk aversion.

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JPMorgan stated that more than 50 supertankers are currently planning to leave the Strait of Hormuz, and an immediate reduction in oil supply is expected to shore up oil prices.

The broker described this as the worst-case scenario of a war between Israel and Iran, where oil prices could rise to US$120-130 per barrel.

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