At the U.S. market open, $BTC took another sucker punch.
Tonight, $BTC briefly fell below 84,000. The trigger wasn’t in crypto: attacks on oil tankers in the Strait of Hormuz hit a new weekly high since the war began, pushing oil prices up, while the 30-year Treasury yield reached its highest level since 2002. This icy splash of liquidity drenched risk assets.
That’s a pretty humbling turn. People used to call $BTC digital gold, but as the conflict escalated, gold ETFs attracted a record $31 billion in the third quarter, and central banks bought gold for the 23rd consecutive month—while Bitcoin fell just like tech stocks. Money is telling the truth: investors are buying gold for safety, while BTC remains a high-beta risk asset for now.
There were a few bright spots amid the bad news. The Winklevoss family filed with the SEC for a Zcash ETF, seeking a Nasdaq listing, putting $ZEC ’s privacy narrative back in the spotlight. And $INJ made a decent showing, securing a Robinhood listing and filing for a staking ETF in the same week.
My take: as long as oil prices and Treasury yields don’t come down, any rebound should be viewed as a recovery, nothing more. Don’t rush to catch a falling knife—wait for the storm to pass.
NFA DYOR
#比特币 #加密货币 #BTC #ZEC #Geopolitics
Tonight, $BTC briefly fell below 84,000. The trigger wasn’t in crypto: attacks on oil tankers in the Strait of Hormuz hit a new weekly high since the war began, pushing oil prices up, while the 30-year Treasury yield reached its highest level since 2002. This icy splash of liquidity drenched risk assets.
That’s a pretty humbling turn. People used to call $BTC digital gold, but as the conflict escalated, gold ETFs attracted a record $31 billion in the third quarter, and central banks bought gold for the 23rd consecutive month—while Bitcoin fell just like tech stocks. Money is telling the truth: investors are buying gold for safety, while BTC remains a high-beta risk asset for now.
There were a few bright spots amid the bad news. The Winklevoss family filed with the SEC for a Zcash ETF, seeking a Nasdaq listing, putting $ZEC ’s privacy narrative back in the spotlight. And $INJ made a decent showing, securing a Robinhood listing and filing for a staking ETF in the same week.
My take: as long as oil prices and Treasury yields don’t come down, any rebound should be viewed as a recovery, nothing more. Don’t rush to catch a falling knife—wait for the storm to pass.
NFA DYOR
#比特币 #加密货币 #BTC #ZEC #Geopolitics