Bitcoin holds near $68,171 as oil price swings and Strait of Hormuz tensions shake macro outlook

Rising tensions around the Strait of Hormuz and a more than 60% year-to-date crude oil jump toward $90 per barrel are feeding inflation fears and tighter liquidity that typically weigh on Bitcoin. After a G7 and IEA plan to release 400 million barrels from reserves and political statements on the Iran conflict, oil tumbled from about $116 to nearly $103, easing some pressure even as BTC trades around $68,171 with falling exchange balances.