BlockBeats News, March 4th. QCP released its daily market analysis stating, "The Strait of Hormuz remains closed, energy supply is tightening, driving prices higher. Brent crude is priced at $83 per barrel, while Dutch natural gas (TTF) has risen 50% to $55. Meanwhile, reports indicate attacks on refineries, maritime insurance firms exiting the market, despite assurances and naval escort proposals from Washington."
A chain reaction has now impacted the AI and tech sectors. South Korea, highly reliant on energy imports and home to several key semiconductor leaders, is facing pressure, with the Korea Composite Stock Price Index (KOSPI) falling 20% from its peak.
We expect market volatility to persist. However, if the supply disruption continues, the pressure to reopen the Strait of Hormuz may increase. Bitcoin has outperformed broader risk assets, which is worth noting and could serve as an early signal of market sentiment stabilization."
