Trump's Strait of Hormuz Claim Sparks Oil Price Surge, Bitcoin Remains Unfazed

US President Donald Trump sparked confusion and raised eyebrows when he posted an image on social media claiming the Strait of Hormuz as a new US territory, potentially the country's 51st state. However, maritime data contradicts this claim, showing that only six vessels crossed through the strait on Monday, compared to almost 140 before the war.

Hormuz is an international waterway between Iran and Oman, and despite Trump's assertion that it is 'now open for all ships,' oil prices have surged nearly 15% in August. This has significant implications for countries reliant on the strait, including Bangladesh, Pakistan, India, and others facing gas shortages, power-saving measures, and reduced LNG availability.

Meanwhile, Bitcoin seems largely unaffected by the Hormuz situation, trading near $64,700 - almost exactly where it stood a month ago. However, its price has been influenced by other factors, including positive ETF flow returning to the US spot market and confirmation that the Fed won't increase interest rates.