BlockBeats diagnosed that the global asset market is shifting its focus from TACO (Trump Always Chicken Out) trading to NACHO (Not A Chance Hormuz Opens) trading. NACHO trading is structured with the logic that: △insurers do not enter into insurance contracts with ships passing through the Strait of Hormuz; △consequently, the Strait of Hormuz effectively remains closed, leading to rising oil prices and increased inflation figures; and △as a result, the U.S. Federal Reserve cannot cut interest rates. While high oil prices and high interest rates are generally negative for asset markets, this is interpreted to mean that the market has accepted the uncertainty of the unresolved Iranian situation as a 'constant from which profits can be made.' A conviction is spreading in the market that the Strait of Hormuz will not open in the short term, and accordingly, assets are flocking to beneficiaries such as energy, big tech companies with ample cash assets and AI momentum. In this regard, eToro analyst Zavier Wong analyzed, "The market seems to have given up on expecting an immediate resolution to the Iran situation. High oil prices have become a characteristic of the current market environment, rather than a temporary shock."
