US inflation came in cooler than expected for June → $BTC ripped past $64k
But here's the catch: that CPI print was measured BEFORE Trump shut down Hormuz again. Oil spiked to $86 within hours of the announcement.
Energy dropped 5.7% MoM but still up 15.7% YoY. The base effect is doing heavy lifting here — comparing against war-time lows makes anything look good.
Goldman already warning next month's CPI could bounce back hard since June data doesn't capture the fresh oil spike at all.
On the $BTC side, this wasn't pure organic buying. CoinGlass shows ~$220M in short liquidations over 24hrs. Classic short squeeze amplifying the move.
So if oil keeps climbing and July CPI comes in hot… does $BTC hold $64k or do we retest $60k?
Macro tailwinds don't last when the data lags reality by a month.
But here's the catch: that CPI print was measured BEFORE Trump shut down Hormuz again. Oil spiked to $86 within hours of the announcement.
Energy dropped 5.7% MoM but still up 15.7% YoY. The base effect is doing heavy lifting here — comparing against war-time lows makes anything look good.
Goldman already warning next month's CPI could bounce back hard since June data doesn't capture the fresh oil spike at all.
On the $BTC side, this wasn't pure organic buying. CoinGlass shows ~$220M in short liquidations over 24hrs. Classic short squeeze amplifying the move.
So if oil keeps climbing and July CPI comes in hot… does $BTC hold $64k or do we retest $60k?
Macro tailwinds don't last when the data lags reality by a month.