LIVE: Oil continues crashing as Bitcoin holds on for dear life post-UN meeting

What happened

Oil prices are falling again as the United States and Iran discuss a phased deal that could reopen the Strait of Hormuz. Brent crude is at $93 and WTI at $105, while Bitcoin is barely holding around $84,422.

Confirmed

Global impact / market context

Lower oil prices can reduce fuel and shipping costs for companies, which may help profits and leave more cash available. Bitcoin's small move suggests crypto investors are waiting instead of buying or selling aggressively during the oil decline.

Analyst inference

Crypto open interest, which means borrowed bets still open, sits at $151 and 79 billion combined in the article. Liquidations, which are forced position closures, reached $338 and 34 million. Sentiment still leans bullish, so investors expect higher prices.

Analyst inference

What to watch

1. Watch whether the United States and Iran finalize their phased deal, because reopening the Strait of Hormuz could push oil prices even lower and change shipping costs. Confirmed
2. A phased deal is proposed, so watch whether both countries agree to terms, since failure could stop the oil price decline and reverse recent moves in energy markets. Proposed
3. Watch Bitcoin near $84,422 and crypto open interest reported as $151 and 79 billion, because more forced selling could push prices below that level. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• cryptopolitan.com