Oil prices are about to drag the crypto market down with them.
Brent is nearing $100, the situation around the Strait of Hormuz keeps escalating, and the Pentagon is even preparing options for Trump to strike Iran. The side effect: 30-year Treasury yields have hit 5.70%, their highest level since 2002. $BTC briefly fell below 84,000 yesterday. So much for digital gold, huh? To me, it looks more like a risk asset drained of liquidity. Don’t fool yourself.
The FOMC minutes released overnight didn’t help either: all 19 voting members backed a September rate hike, and most thought there’d need to be another one before year-end. The AI compute boom was called out as one of the drivers of inflation. A bit of dark humor—the tech bull market has become a reason to raise rates.
It’s not all bad news in crypto, though. The SEC approved 3x leveraged ETFs, with $BTC $ETH among those on the list, expanding the regulated options for leveraged exposure. Over in Solana, Orca and Loopscale merged to form Formation, as DeFi starts banding together for warmth. Global gold ETFs attracted a record $31 billion in the third quarter, while central banks have been buying gold for 23 straight months. Money is moving into hard assets to find shelter—the signal is pretty clear.
My take: bearish on the macro, but don’t chase shorts. Geopolitical events like this can turn on a single headline. Keep your hands steady and save some ammo.
NFA DYOR
#比特币 #以太坊 #BTC #加密货币 #Federal Reserve
Brent is nearing $100, the situation around the Strait of Hormuz keeps escalating, and the Pentagon is even preparing options for Trump to strike Iran. The side effect: 30-year Treasury yields have hit 5.70%, their highest level since 2002. $BTC briefly fell below 84,000 yesterday. So much for digital gold, huh? To me, it looks more like a risk asset drained of liquidity. Don’t fool yourself.
The FOMC minutes released overnight didn’t help either: all 19 voting members backed a September rate hike, and most thought there’d need to be another one before year-end. The AI compute boom was called out as one of the drivers of inflation. A bit of dark humor—the tech bull market has become a reason to raise rates.
It’s not all bad news in crypto, though. The SEC approved 3x leveraged ETFs, with $BTC $ETH among those on the list, expanding the regulated options for leveraged exposure. Over in Solana, Orca and Loopscale merged to form Formation, as DeFi starts banding together for warmth. Global gold ETFs attracted a record $31 billion in the third quarter, while central banks have been buying gold for 23 straight months. Money is moving into hard assets to find shelter—the signal is pretty clear.
My take: bearish on the macro, but don’t chase shorts. Geopolitical events like this can turn on a single headline. Keep your hands steady and save some ammo.
NFA DYOR
#比特币 #以太坊 #BTC #加密货币 #Federal Reserve