$BTC dropped as low as $63,852 today after rising oil prices and uncertainty ahead of the US inflation report weakened risk appetite, with the decline following renewed deterioration in US-Iran negotiations over reopening the Strait of Hormuz Brent crude rose above $89 a barrel on the news.
Adding to the pressure: the US Senate punted its vote on the CLARITY Act, a market-structure bill the crypto industry has championed, to after the August recess
deflating a legislative tailwind that had lifted names like XRP in July.
$ETH is holding near $1,871, and all eyes are now on this week's US inflation data a key input for the Fed's September rate call.
Not financial advice. DYOR.
#bitcoin #CryptoNews #MarketUpdate
Adding to the pressure: the US Senate punted its vote on the CLARITY Act, a market-structure bill the crypto industry has championed, to after the August recess
deflating a legislative tailwind that had lifted names like XRP in July.
$ETH is holding near $1,871, and all eyes are now on this week's US inflation data a key input for the Fed's September rate call.
Not financial advice. DYOR.
#bitcoin #CryptoNews #MarketUpdate