A new macro signal about “$BTC ”: wheat
Gold, crude oil, the S&P 500, copper, Nvidia, and even SpaceX---these are familiar traditional assets to watch
But there’s another asset that has suddenly become worth paying attention to...
Since the end of June, Chicago wheat prices have risen by about 30%, reaching their highest level in 3 years!
The main reason is: escalating attacks around Black Sea ports, disrupting exports from Russia and Ukraine, two of the world’s largest wheat suppliers
Corn prices are also rising: futures are now around $5.15 per bushel, about 27% above the June low, as concerns over U.S. production have intensified this trend
Rising wheat and corn prices will eventually pass through to food inflation → inflation expectations → Federal Reserve policy → interest rates and liquidity
And the last two are already very important for Bitcoin
Add to that Brent crude oil returning above $90 and rising memory chip prices, and inflation suddenly has quite a few possible paths to a comeback
#通货膨胀
Gold, crude oil, the S&P 500, copper, Nvidia, and even SpaceX---these are familiar traditional assets to watch
But there’s another asset that has suddenly become worth paying attention to...
Since the end of June, Chicago wheat prices have risen by about 30%, reaching their highest level in 3 years!
The main reason is: escalating attacks around Black Sea ports, disrupting exports from Russia and Ukraine, two of the world’s largest wheat suppliers
Corn prices are also rising: futures are now around $5.15 per bushel, about 27% above the June low, as concerns over U.S. production have intensified this trend
Rising wheat and corn prices will eventually pass through to food inflation → inflation expectations → Federal Reserve policy → interest rates and liquidity
And the last two are already very important for Bitcoin
Add to that Brent crude oil returning above $90 and rising memory chip prices, and inflation suddenly has quite a few possible paths to a comeback
#通货膨胀
