When oil prices and expectations of interest-rate hikes rise together, it’s usually hard for crypto markets to pretend nothing is wrong.
The crypto market fell about 2% on Monday. BTC briefly dropped to nearly $82,000, while ETH faced pressure around $2,650; WTI crude oil broke above $93, 10-year U.S. Treasury yields stayed above 5%, and in addition, expectations for a Fed rate hike in October rose to about 68%. Within 24 hours, liquidations across the entire network totaled about $330 million. Source: CryptoNews
The problem with this kind of combined signal is that it isn’t a single-point shock—it pushes inflation, interest rates, and leveraged liquidations onto the front stage together. One observation is that if BTC can’t reclaim the resistance around $84,800, the rebound is more likely to be interrupted by sell pressure; another observation is that major assets like ETH and XRP are often dragged down by sentiment first.
Would you rather first see BTC reclaim $84,800, or wait until macro pressure eases a bit?
Figure 1: Oil prices and rate-hike expectations weigh on the crypto market · Key information
Image source: https://cryptonews.com/news/why-is-crypto-down-today-market-rebound/
The crypto market fell about 2% on Monday. BTC briefly dropped to nearly $82,000, while ETH faced pressure around $2,650; WTI crude oil broke above $93, 10-year U.S. Treasury yields stayed above 5%, and in addition, expectations for a Fed rate hike in October rose to about 68%. Within 24 hours, liquidations across the entire network totaled about $330 million. Source: CryptoNews
The problem with this kind of combined signal is that it isn’t a single-point shock—it pushes inflation, interest rates, and leveraged liquidations onto the front stage together. One observation is that if BTC can’t reclaim the resistance around $84,800, the rebound is more likely to be interrupted by sell pressure; another observation is that major assets like ETH and XRP are often dragged down by sentiment first.
Would you rather first see BTC reclaim $84,800, or wait until macro pressure eases a bit?
Figure 1: Oil prices and rate-hike expectations weigh on the crypto market · Key information
Image source: https://cryptonews.com/news/why-is-crypto-down-today-market-rebound/
