【10/20 Crypto × Global Politics & Economics Briefing】
BTC is trading sideways around $82,000, down about 2% so far this October. Uptober is turning into Downtober; meanwhile, BTC dominance has climbed to around 60%. Altcoins: “I’m just here to run alongside you.” 🫠
On 10/19, BlackRock filed an application with the SEC for a “buffered” Bitcoin ETF (PBIT): losses in each period would be limited to around 10%, while gains would be capped too. Wall Street has finally buckled Bitcoin in—but also took out the accelerator. (It’s only an application; it hasn’t been approved yet.)
The thing that’s really going to the moon is oil: tankers in the Strait of Hormuz have been attacked and hit mines one after another, and Brent closed at around $109.50, nearing a five-month high. Last week, Trump also eased some sanctions on Russia—a move analysts read as an all-out effort to push oil prices down ahead of the midterm elections (11/3). The gas station is more thrilling than the exchange right now. ⛽🚀
Bottom line: Crypto is still waiting for altseason; the oil crowd is already celebrating the New Year.
#Bitcoin #BTC #Cryptocurrency #BlackRock #OilPrices #StraitOfHormuz #USMidtermElections #Uptober
$BTC
BTC is trading sideways around $82,000, down about 2% so far this October. Uptober is turning into Downtober; meanwhile, BTC dominance has climbed to around 60%. Altcoins: “I’m just here to run alongside you.” 🫠
On 10/19, BlackRock filed an application with the SEC for a “buffered” Bitcoin ETF (PBIT): losses in each period would be limited to around 10%, while gains would be capped too. Wall Street has finally buckled Bitcoin in—but also took out the accelerator. (It’s only an application; it hasn’t been approved yet.)
The thing that’s really going to the moon is oil: tankers in the Strait of Hormuz have been attacked and hit mines one after another, and Brent closed at around $109.50, nearing a five-month high. Last week, Trump also eased some sanctions on Russia—a move analysts read as an all-out effort to push oil prices down ahead of the midterm elections (11/3). The gas station is more thrilling than the exchange right now. ⛽🚀
Bottom line: Crypto is still waiting for altseason; the oil crowd is already celebrating the New Year.
#Bitcoin #BTC #Cryptocurrency #BlackRock #OilPrices #StraitOfHormuz #USMidtermElections #Uptober
$BTC