The European session started off anything but calm.
Several tankers in the Strait of Hormuz hit mines, Iran said the number of vessels under attack was rising, and oil prices jumped sharply. A hurricane in the Gulf of Mexico also forced 60% of offshore crude production offline. A major trader warned that if transshipment can’t keep up, oil could even hit 200. Inflation expectations were lit up, the probability of a December Fed rate hike surged to 75%, and U.S. Treasury yields headed toward 6%.
It’s no surprise that $BTC $ETH has been pushed down. ETF outflows in October were already close to $1 billion. But on the other hand, Russia’s two largest banks opened BTC, ETH, and USDT channels for 140 million customers. This level of compliant on-ramp is far more interesting than short-term price action.
There’s also something substantial in the altcoin space: APT proposed permanently locking 210 million tokens and cutting staking rewards in half, clearly moving toward disinflation; PYTH went even further, with the DAO approving a 100% revenue buyback, going all in directly.
In the short term, respect macro conditions; in the medium term, only back projects that are actually building.
NFA DYOR
#宏观经济 #加密货币 #比特币 #油价 #Fed
Several tankers in the Strait of Hormuz hit mines, Iran said the number of vessels under attack was rising, and oil prices jumped sharply. A hurricane in the Gulf of Mexico also forced 60% of offshore crude production offline. A major trader warned that if transshipment can’t keep up, oil could even hit 200. Inflation expectations were lit up, the probability of a December Fed rate hike surged to 75%, and U.S. Treasury yields headed toward 6%.
It’s no surprise that $BTC $ETH has been pushed down. ETF outflows in October were already close to $1 billion. But on the other hand, Russia’s two largest banks opened BTC, ETH, and USDT channels for 140 million customers. This level of compliant on-ramp is far more interesting than short-term price action.
There’s also something substantial in the altcoin space: APT proposed permanently locking 210 million tokens and cutting staking rewards in half, clearly moving toward disinflation; PYTH went even further, with the DAO approving a 100% revenue buyback, going all in directly.
In the short term, respect macro conditions; in the medium term, only back projects that are actually building.
NFA DYOR
#宏观经济 #加密货币 #比特币 #油价 #Fed