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Bitcoin fell by only 1.5% in September—its worst month on record—after absorbing the Federal Reserve’s rate hike to 3.75%–4.00%, the failure of the proposed CLARITY Act (49-50), oil hitting $106, and the Bank of Japan raising rates to their highest level in 31 years. The lack of reaction is the story. “Anyone who would have planned to sell in events like these would have sold already,” said Mitchell Ashqoo of Blockware. A 5% drop in oil below $96 and the U.S. 10-year Treasury yield slipping to under 5% gave every major digital asset what they wanted on Friday—and none of the top 40 most liquid coins fell. The Securities and Exchange Commission granted a temporary exemption from innovation to trade tokenized NMS shares two days after Congress failed to act. The Bank of Japan lifted rates to 1.25%, but the yen slid to 156.91 after two board members objected, leaving guidance unclear. Bitcoin’s $82,000 ceiling remains untested.
$BTC
Bitcoin fell by only 1.5% in September—its worst month on record—after absorbing the Federal Reserve’s rate hike to 3.75%–4.00%, the failure of the proposed CLARITY Act (49-50), oil hitting $106, and the Bank of Japan raising rates to their highest level in 31 years. The lack of reaction is the story. “Anyone who would have planned to sell in events like these would have sold already,” said Mitchell Ashqoo of Blockware. A 5% drop in oil below $96 and the U.S. 10-year Treasury yield slipping to under 5% gave every major digital asset what they wanted on Friday—and none of the top 40 most liquid coins fell. The Securities and Exchange Commission granted a temporary exemption from innovation to trade tokenized NMS shares two days after Congress failed to act. The Bank of Japan lifted rates to 1.25%, but the yen slid to 156.91 after two board members objected, leaving guidance unclear. Bitcoin’s $82,000 ceiling remains untested.
$BTC