BlockBeats news, on March 4, QCP released its daily market analysis stating, "The Strait of Hormuz remains closed, tightening energy supplies and pushing prices higher. Brent crude is trading at $83 per barrel, while Dutch natural gas (TTF) has surged 50% to $55. Meanwhile, refinery facilities are reportedly under attack, and marine insurance providers have withdrawn from the market, despite Washington's offers of guarantees and naval escort solutions."
The ripple effect has spread to the AI and technology sectors. South Korea, which heavily relies on energy imports and is home to several key semiconductor leaders, is under pressure, with the KOSPI index falling 20% from its peak.
We expect market volatility to persist. However, if supply disruptions continue, pressure to reopen the Strait of Hormuz may rise. Bitcoin’s outperformance relative to broader risk assets is noteworthy and could serve as an early signal of stabilizing market sentiment.