🔥 WAR, OIL, 58% HIKE ODDS — SO WHY WON'T BITCOIN BREAK $78K?
Stack up what the market just absorbed in 10 days:
• Fresh U.S.-Iran military exchanges over the weekend — oil elevated, risk-off everywhere
• A "bombastic" jobs report that pushed September hike odds to ~58%
• A strong-arm Fed chair who just killed the rate-cut trade at Jackson Hole
• A $320M sidechain scare that would have nuked sentiment in any normal month
And $BTC? Sitting at $79K, down less than 3% from its monthly high, with 71% of supply still in profit. Traders on desks are calling it the quietest reaction to a war headline all cycle.
Why it matters: one variable holds the pin — Friday's CPI (5:30 PM PKT). Cool print and the hike narrative deflates. Hot print and $77,500 support (Mudrex's line) gets a real test.
My take: resilience like this is either accumulation in disguise or the calm before capitulation. CPI Friday flips one of those cards. I'm leaning accumulation — the data keeps failing to kill this bid.
Accumulation or calm before the storm? 🌊
👇 Follow for macro translated into plain English
#bitcoin #CPI #markets #USStrikesTargetsNearHormuzAndJask #Crypto
Stack up what the market just absorbed in 10 days:
• Fresh U.S.-Iran military exchanges over the weekend — oil elevated, risk-off everywhere
• A "bombastic" jobs report that pushed September hike odds to ~58%
• A strong-arm Fed chair who just killed the rate-cut trade at Jackson Hole
• A $320M sidechain scare that would have nuked sentiment in any normal month
And $BTC? Sitting at $79K, down less than 3% from its monthly high, with 71% of supply still in profit. Traders on desks are calling it the quietest reaction to a war headline all cycle.
Why it matters: one variable holds the pin — Friday's CPI (5:30 PM PKT). Cool print and the hike narrative deflates. Hot print and $77,500 support (Mudrex's line) gets a real test.
My take: resilience like this is either accumulation in disguise or the calm before capitulation. CPI Friday flips one of those cards. I'm leaning accumulation — the data keeps failing to kill this bid.
Accumulation or calm before the storm? 🌊
👇 Follow for macro translated into plain English
#bitcoin #CPI #markets #USStrikesTargetsNearHormuzAndJask #Crypto
