Trump says oil prices should come down
On October 17, Trump again said the Russia-Ukraine conflict should end, and said oil prices would come down soon, bringing the Abraham Accords and Saudi Arabia back to the table.
Once crude oil starts falling, inflation expectations cool along with it, giving the Fed more room to cut rates. Risk appetite will first flow into these highly liquid assets, then spill over to . Another factor is the miners: much of North America’s computing power runs on associated gas and diesel. Falling oil prices mean lower shutdown costs, so miners won’t be forced to sell coins near their breakeven point just to pay their electricity bills, directly reducing spot selling pressure by a notch. As long as BTC holds the 105,000 wick low, a retest is consolidation, not a reversal. ETH will lag behind on the way up, while SOL has the most upside potential—but is also the first to get hit.
For those of you holding spot, what’s your cost basis, and would you dare to add on this pullback?
$BTC $ETH $SOL
On October 17, Trump again said the Russia-Ukraine conflict should end, and said oil prices would come down soon, bringing the Abraham Accords and Saudi Arabia back to the table.
Once crude oil starts falling, inflation expectations cool along with it, giving the Fed more room to cut rates. Risk appetite will first flow into these highly liquid assets, then spill over to . Another factor is the miners: much of North America’s computing power runs on associated gas and diesel. Falling oil prices mean lower shutdown costs, so miners won’t be forced to sell coins near their breakeven point just to pay their electricity bills, directly reducing spot selling pressure by a notch. As long as BTC holds the 105,000 wick low, a retest is consolidation, not a reversal. ETH will lag behind on the way up, while SOL has the most upside potential—but is also the first to get hit.
For those of you holding spot, what’s your cost basis, and would you dare to add on this pullback?
$BTC $ETH $SOL