According to analysts at ING and energy expert Anas Alhajji (via TradingView and X), Bitcoin (BTC) successfully defended the critical $100,430 support after oil prices reversed early gains despite geopolitical tensions in the Middle East. Oil markets reacted less dramatically than expected to the U.S. airstrike on Iran, with Brent and WTI both erasing most of their initial 3% spikes. BTC rebounded above $101,000, signaling resilience among risk assets as investors discounted the likelihood of a major oil supply disruption through the Strait of Hormuz. This muted oil reaction has reduced immediate stagflation risks, allowing crypto traders to focus on technical support levels. If BTC maintains support above $100,430, bullish momentum could target previous highs near $110,000, while a break below this level may shift attention to the $95,900 region, where the 100- and 200-day SMAs converge. (Sources: TradingView, ING report, Anas Alhajji/X)

According to TradingView data, Bitcoin (BTC) has successfully held key support at $100,430 despite earlier fears of an oil price spike impacting risk assets. Brent and WTI crude oil prices gapped higher by just 3% following geopolitical tensions but erased most gains, with Brent trading at $77 (up 1.4%) and WTI at $76.75 as of the latest update (source: TradingView). Analysts at ING note that the market does not expect Iran to block the Strait of Hormuz, a move that could destabilize oil flows to Asia (source: ING report). Energy expert Anas Alhajji further states on X that such threats are often rhetorical and impractical (source: Anas Alhajji on X). For traders, BTC's resilience above $100K suggests potential for a repeat of the June 5 recovery to $110K, while a break below could target $95,900, the confluence of 100- and 200-day moving averages (source: BTC chart analysis). This muted oil reaction reduces stagflation risks, supporting BTC and other cryptocurrencies in the near term.

According to The Kobeissi Letter, in 2024, Saudi Arabia was responsible for 38% of total crude and condensate exports through the Strait of Hormuz, amounting to 5.5 million barrels per day. This critical oil transit route supplies not just Asia but also the US and EU, highlighting the strait's significance for global energy markets. For cryptocurrency traders, disruptions or geopolitical tensions in the Strait of Hormuz can trigger volatility in oil prices, which often correlates with movements in crypto assets like BTC and ETH, as energy markets and risk sentiment are closely linked (source: The Kobeissi Letter, June 22, 2025).