Thursday has been the focus of market attention on information on whether the UAE has transferred assets to Iran. According to various sources, some funds, cash and gold have been transferred from the United Arab Emirates to Iran, but none has been confirmed by the United Arab Emirates or the United States. As a result, oil prices are falling behind and bitcoin is back on the line at $63,300.
There's been an increase in the threat of asset transfer.
According to multiple sources on the Hormuz Letter and X platforms, the United Arab Emirates may have released some of the Iranian assets that were stored in local banks. According to the statement, the transfer also included approximately 1.5 tons of gold, valued at between $200 million and $283 million.
The information also states that this move by the United Arab Emirates is related to the security assurances provided by Iran that the United Arab Emirates is immune from future attacks. It is also mentioned that a Boeing 737-7KK of the Royal Emirates Official Air Service travelled between Abu Dhabi and Iran on 11 and 12 August and landed at Mehraabad airport and Karadipayam airport in Tehran.
However, these elements are still coming mainly from social platforms and regional sources. There had also been reports of the possible release of $10 to $20 billion of Iranian assets in the United Arab Emirates, but the Ministry of Foreign Affairs of the United Arab Emirates had denied the allegations at the time and United States officials had denied the existence of a collateral agreement involving the freezing of funds in Iran.
Oil prices are falling around $81.
After the associated rumours of fermentation, international oil prices fell around $81 per barrel on Thursday, ending with a few consecutive days of upward movement. At the same time, traders are following with interest the progress of negotiations to resume the opening of the Strait of Hormuz. The channel connects Gulf energy exports and is an important route for global crude oil transport.
Oil prices have fallen behind, market concerns about short-term inflationary pressures have eased and risk assets have been supported. The previous week, the cumulative increase in WTI crude oil had exceeded 5 per cent, while bitcoin had fallen by about 2 per cent over the same period. Higher energy prices usually push up inflation expectations and suppress volatile asset performance.
There's still pressure over bitcoin.
Following the fall in oil prices and the weakening of inflation data in the United States, Bitcoin rose to a point near $63,400, ending four consecutive trading days. In the United States in July, CPI growth slowed from 3.5 per cent to 3.4 per cent, while the core CPI ring growth was 0.2 per cent and 2.5 per cent.
However, the institutional financial approach remains cautious. United States-listed spot bitcoin ETF recorded a net outflow of $61.16 million on Wednesday, indicating that there was no significant shift in funding towards recovery.
In terms of price ranges, the market first focused on the 50-day average pressure level near $64,542, and the upper resistance ranged from $66,500 to $66,667. Below is a concern about US$ 62,300 support, and if it fails, the price may be retested at a lower level in the year nearing US$ 57,800 in early July.