Bitcoin hitting 73k today is just the market breathing after the Hormuz shock. The weekend dip to 70k tracked the oil spike to $105 almost perfectly. Now that crude has settled back toward $96 Bitcoin is moving up in lockstep. This is not a safe haven play. It is a high beta reaction to energy volatility. The 14 month low in CME futures volume is the real signal here. Institutions are waiting for a concrete resolution to the blockade before putting real capital to work. Until professional volume returns Bitcoin is essentially a 24/7 proxy for the oil market. If WTI crude breaks back above $100 then 73k will be hard to hold. https://t.co/ZM8wYyE348
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