The ongoing U.S.-Israel military campaign against Iran has shut the Strait of Hormuz, pushing Brent crude close to $100 per barrel. This energy shock raises electricity costs for AI data centers, potentially slowing development in the sector.
Despite the turmoil, prediction markets are pricing Bitcoin above $66,000 at 99.9% YES for May 4. However, sustained high energy costs could weigh on investor sentiment.
Geopolitical talks between the U.S. and Iran remain fluid, with any resolution potentially easing oil prices and market uncertainty.