$BTC STUCK AT $64K AS OIL AND YIELDS OUTWEIGH GOOD CPI DATA – 30-YEAR TREASURY HITS 5.337%
Bitcoin is trading at $64,725, up just 0.3% – barely moving despite July CPI coming in soft at 0.1% month-on-month and September rate-hike odds dropping to about one-in-three.
The disconnect:
· Nasdaq fell 1.33%, S&P 500 down 0.69% – tech stocks sold off
· 30-year Treasury yield hit 5.337% – HIGHEST since 2007
· Brent crude held near $91/barrel as U.S.-Iran talks remain stalled
Wintermute's take: "An asset that cannot rally on good news while its dedicated vehicles bleed is telling us the marginal seller is back".
The Iran factor: Strait of Hormuz ship transits collapsed from 31 the prior weekend to ZERO Sunday. The 60-day ceasefire expired and talks are stalled. Iran reiterated that the Strait will not return to normal operations until restrictions on its ports and oil exports are lifted.
👇 Do you think Bitcoin will break below $64K or hold? Type BREAK or HOLD.
Bitcoin is trading at $64,725, up just 0.3% – barely moving despite July CPI coming in soft at 0.1% month-on-month and September rate-hike odds dropping to about one-in-three.
The disconnect:
· Nasdaq fell 1.33%, S&P 500 down 0.69% – tech stocks sold off
· 30-year Treasury yield hit 5.337% – HIGHEST since 2007
· Brent crude held near $91/barrel as U.S.-Iran talks remain stalled
Wintermute's take: "An asset that cannot rally on good news while its dedicated vehicles bleed is telling us the marginal seller is back".
The Iran factor: Strait of Hormuz ship transits collapsed from 31 the prior weekend to ZERO Sunday. The 60-day ceasefire expired and talks are stalled. Iran reiterated that the Strait will not return to normal operations until restrictions on its ports and oil exports are lifted.
👇 Do you think Bitcoin will break below $64K or hold? Type BREAK or HOLD.