🚨 Oil is igniting and rate hikes are putting pressure on crypto
Brent crude jumped 5% to $108, its highest level since May, and inflation expectations started rising again.
After hot PPI data, the odds of a US rate hike next week reached about 70%.
The equation is clear 👇
Higher oil + higher interest = more pressure on high-risk assets.
So here $BTC and Altcoins, we need to watch them closely, because any bounce right now could face fresh selling pressure 👀
#USAugustPPIRisesLessThanExpected
#USAugustPPIYoYRisesTo5.4%
#IranSaysReadyToEscalateWarWithUS
#
Brent crude jumped 5% to $108, its highest level since May, and inflation expectations started rising again.
After hot PPI data, the odds of a US rate hike next week reached about 70%.
The equation is clear 👇
Higher oil + higher interest = more pressure on high-risk assets.
So here $BTC and Altcoins, we need to watch them closely, because any bounce right now could face fresh selling pressure 👀
#USAugustPPIRisesLessThanExpected
#USAugustPPIYoYRisesTo5.4%
#IranSaysReadyToEscalateWarWithUS
#
