$BTC held near $78K while oil topped $100 and Fed hike odds passed 50%
Bitcoin traded between $77.8K and $79.8K overnight and closed near $78.3K. Ether slipped about 1% to $2,470.
Brent crude broke above $100 a barrel as the US-Iran conflict ground on, and Wall Street closed lower for a third straight day with Treasury yields at fresh highs. Fed rate hike odds for the September 16 meeting crossed 50% on bets that pricier oil feeds back into inflation.
Nobody knows yet if the fighting cools off or pushes oil higher from here. Gold sitting near $4,400 says traders are hedging both ways.
A rate hike is the last thing crypto wants heading into autumn.
Watch oil and the Iran headlines today. They're moving stocks, gold, and crypto more than anything happening on-chain right now.
$BTC $ETH #OilPrice #FedRateHike #BTC #Bitcoin #Crypto
Bitcoin traded between $77.8K and $79.8K overnight and closed near $78.3K. Ether slipped about 1% to $2,470.
Brent crude broke above $100 a barrel as the US-Iran conflict ground on, and Wall Street closed lower for a third straight day with Treasury yields at fresh highs. Fed rate hike odds for the September 16 meeting crossed 50% on bets that pricier oil feeds back into inflation.
Nobody knows yet if the fighting cools off or pushes oil higher from here. Gold sitting near $4,400 says traders are hedging both ways.
A rate hike is the last thing crypto wants heading into autumn.
Watch oil and the Iran headlines today. They're moving stocks, gold, and crypto more than anything happening on-chain right now.
$BTC $ETH #OilPrice #FedRateHike #BTC #Bitcoin #Crypto
