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Golden Ten Data reported on June 23 that as the United States lifted sanctions on related goods and allowed more countries to purchase, Iranian crude oil has once again poured into the global market in large quantities. Over the past week, more than 30 million barrels of crude oil were shipped to Asia, including both previously blocked oil by the US and crude exported from Kharg Island, Iran’s largest export facility in the northern Persian Gulf. In the long term, this surge in exports is mainly due to the clearance and release of previously blocked goods, so Iran’s export pace may decline again afterwards. The current transport level of about 2 million barrels per day is already relatively high for Iran in recent years. However, this short-term spike could still benefit Tehran, as the expansion of sanctions exemptions has increased the pool of potential buyers, enabling it to boost sales with smaller price discounts.

CryptoQuant analysts pointed out that after the market correction in June, Bitcoin futures leverage was significantly reset, and open interest declined faster than the BTC price.

Supplementary note: As the Strait of Hormuz is a crucial global oil transportation chokepoint, the smoothness of its navigation is directly related to the security of global energy supply and the stability of shipping trade. Establishing relevant safeguard mechanisms is of great significance for maintaining the stable operation of regional and global energy markets.