🪬 Hormuz risk is the real story Merz’s message is less about diplomacy and more about signaling that Europe sees the UAE attack as a line-crossing moment. My read: markets should care less about the headline language and more about the possibility of a wider energy shock if the Strait of Hormuz stays under pressure. ⚖️ If this escalates, the first-order effect is a crude and inflation scare, and that usually tightens the screws on risk assets before anything else. The constructive case for BTC is the familiar one: when geopolitics starts interfering with settlement, trade, and energy flows, hard-asset narratives get louder. But I’m not romanticizing it — in the early phase, crypto often trades like a nervous risk proxy, not a clean hedge. **👁️‍🗨️** The sharp takeaway: this is a macro stress test, and the market’s reaction will tell us whether it still prices BTC as a speculative asset or as a geopolitical release valve. ⚠️ Personal analysis only. Not financial advice. DYOR. #BTC #Macro #Geopolitics