The dollar, oil prices, and Treasury yields all cooled today, while $BTC barely moved, trading at $80,436.
Macro signals: Brent crude fell about 1% on news of Qatar’s mediation efforts, hovering around $115; the dollar index was around 101.6, near a three-week low; and the 10-year Treasury yield was around 5%, below this month’s peak of 5.36%.
My take: This is “less bad news,” not “good news.” $BTC ’s 24-hour range was 79,265–80,837, with a move of only about 2%. The market is waiting for the Fed this week, earnings from Microsoft, Google, and Amazon, and Thursday’s PCE report.
Watch out: If Middle East negotiations hit another snag, oil prices and yields could reverse course. If the Fed strikes a hawkish tone on December, it could undo this cooling trend.
Who do you think will have a bigger impact on $BTC this week?
#BTC #Macro
These are personal opinions. The author may hold assets mentioned in this post. This is not investment advice. DYOR
Macro signals: Brent crude fell about 1% on news of Qatar’s mediation efforts, hovering around $115; the dollar index was around 101.6, near a three-week low; and the 10-year Treasury yield was around 5%, below this month’s peak of 5.36%.
My take: This is “less bad news,” not “good news.” $BTC ’s 24-hour range was 79,265–80,837, with a move of only about 2%. The market is waiting for the Fed this week, earnings from Microsoft, Google, and Amazon, and Thursday’s PCE report.
Watch out: If Middle East negotiations hit another snag, oil prices and yields could reverse course. If the Fed strikes a hawkish tone on December, it could undo this cooling trend.
Who do you think will have a bigger impact on $BTC this week?
#BTC #Macro
These are personal opinions. The author may hold assets mentioned in this post. This is not investment advice. DYOR
