📉 $BTC nears a 3-week low as oil climbs on Iran strike worries
On Oct 8 Bitcoin dipped below $81,000, its lowest level since Sept 21, giving back its late-September gains.
What’s pushing the market:
🔸 Oil jumped, with Brent at $105.88 and WTI at $93.20, after NBC reported the US could be preparing fresh strikes on Iran
🔸 The US 30-year Treasury yield briefly hit 5.73%, a 24-year high
🔸 Fed Governor Waller signaled more rate hikes may be needed, and odds of a December hike are above 70%
🔸 About $430M in long positions were liquidated
🔸 US Bitcoin ETFs saw a $485M outflow, their biggest since June
Level to watch:
🟡 $82,500 is seen as the deciding level for Bitcoin’s next market structure, according to analyst Rekt Capital
On the other side, Trump said envoy Steve Witkoff is making progress on a peace deal. A deal could ease oil and risk pressure, while strikes could do the opposite.
Headlines are moving this market fast. Keep leverage low and don’t trade on rumors.
Are you waiting for $82.5K to be reclaimed or for lower prices? 👇
$XAU $CL
On Oct 8 Bitcoin dipped below $81,000, its lowest level since Sept 21, giving back its late-September gains.
What’s pushing the market:
🔸 Oil jumped, with Brent at $105.88 and WTI at $93.20, after NBC reported the US could be preparing fresh strikes on Iran
🔸 The US 30-year Treasury yield briefly hit 5.73%, a 24-year high
🔸 Fed Governor Waller signaled more rate hikes may be needed, and odds of a December hike are above 70%
🔸 About $430M in long positions were liquidated
🔸 US Bitcoin ETFs saw a $485M outflow, their biggest since June
Level to watch:
🟡 $82,500 is seen as the deciding level for Bitcoin’s next market structure, according to analyst Rekt Capital
On the other side, Trump said envoy Steve Witkoff is making progress on a peace deal. A deal could ease oil and risk pressure, while strikes could do the opposite.
Headlines are moving this market fast. Keep leverage low and don’t trade on rumors.
Are you waiting for $82.5K to be reclaimed or for lower prices? 👇
$XAU $CL