Last night’s gains in U.S. stocks were completely wiped out by oil prices. Brent crude neared $100, tankers in the Strait of Hormuz were hit by missiles, $BTC briefly fell below 84,000, and with both oil and the dollar rising, the crypto market got drained.
The Fed meeting minutes were even more hawkish: all 19 members backed a 25-basis-point rate hike in September, and most thought there’d need to be another one before year-end. The 30-year Treasury yield surged to 5.7%, its highest since 2002. As long as rates stay high, risk assets will struggle.
But there were some bright spots: the SEC approved 3x leveraged ETFs including $BTC and $ETH , and the CFTC chair said they’d establish “clear rules” for crypto even without Congress. Tom Lee said BitMine would stop buying once it had acquired 5% of $ETH . On-chain activity wasn’t quiet either: Solana projects Orca and Loopscale merged to form Formation, while Sui posted a 40-million TPS record.
My take: geopolitical tensions and interest rates are a double headwind. Don’t rush to buy the dip in the short term—losing 84,000 is a significant hit to sentiment. But regulatory progress and new institutional products are long-term positives, so the more prices fall, the more closely we should watch what the traditional finance players are doing.
By day, I’m watching oil prices; at night, I’m keeping an eye on the U.S. session.
#比特币 #以太坊 #美联储 #地缘政治 #CryptoMarket
NFA DYOR
The Fed meeting minutes were even more hawkish: all 19 members backed a 25-basis-point rate hike in September, and most thought there’d need to be another one before year-end. The 30-year Treasury yield surged to 5.7%, its highest since 2002. As long as rates stay high, risk assets will struggle.
But there were some bright spots: the SEC approved 3x leveraged ETFs including $BTC and $ETH , and the CFTC chair said they’d establish “clear rules” for crypto even without Congress. Tom Lee said BitMine would stop buying once it had acquired 5% of $ETH . On-chain activity wasn’t quiet either: Solana projects Orca and Loopscale merged to form Formation, while Sui posted a 40-million TPS record.
My take: geopolitical tensions and interest rates are a double headwind. Don’t rush to buy the dip in the short term—losing 84,000 is a significant hit to sentiment. But regulatory progress and new institutional products are long-term positives, so the more prices fall, the more closely we should watch what the traditional finance players are doing.
By day, I’m watching oil prices; at night, I’m keeping an eye on the U.S. session.
#比特币 #以太坊 #美联储 #地缘政治 #CryptoMarket
NFA DYOR