$BTC is sitting near $78.6K this morning, down about 0.6% over the past 24 hours after dipping as low as $77.6K overnight. Not a dramatic move on its own. What stands out is everything happening around it.
Wall Street closed lower, with the Dow shedding more than 600 points as Brent crude broke back above $100 a barrel for the first time in three months. Gold fell for a third straight session. The yen touched a seven month high near 154 per dollar on growing bets the Bank of Japan will hike again soon.
The bigger surprise sits with the Fed. CME FedWatch now puts the odds of a 25 basis point hike this month at 59.4%. A few weeks ago that was seen as basically a coin flip. It has tilted toward yes since, as sticky inflation from tariffs and rising energy costs does the pushing, not a booming labor market.
$ETH held almost dead flat, up 0.02% to $2,489, trading in a $2,441 to $2,508 band. When equities sell off hard and crypto barely reacts, that gap usually closes one way or the other within a session or two. Worth watching which direction it goes.
None of this points to panic yet. Funding costs are rising, oil is expensive again, and risk assets are pricing in a Fed that might tighten rather than ease. That combination has not been kind to crypto in past cycles, and today's session will show whether traders start pricing that in properly.
$BTC $ETH #Fed #Oil #MarketUpdate
Wall Street closed lower, with the Dow shedding more than 600 points as Brent crude broke back above $100 a barrel for the first time in three months. Gold fell for a third straight session. The yen touched a seven month high near 154 per dollar on growing bets the Bank of Japan will hike again soon.
The bigger surprise sits with the Fed. CME FedWatch now puts the odds of a 25 basis point hike this month at 59.4%. A few weeks ago that was seen as basically a coin flip. It has tilted toward yes since, as sticky inflation from tariffs and rising energy costs does the pushing, not a booming labor market.
$ETH held almost dead flat, up 0.02% to $2,489, trading in a $2,441 to $2,508 band. When equities sell off hard and crypto barely reacts, that gap usually closes one way or the other within a session or two. Worth watching which direction it goes.
None of this points to panic yet. Funding costs are rising, oil is expensive again, and risk assets are pricing in a Fed that might tighten rather than ease. That combination has not been kind to crypto in past cycles, and today's session will show whether traders start pricing that in properly.
$BTC $ETH #Fed #Oil #MarketUpdate
