Bitcoin holds near $80,000 as oil retreats and the Fed decision looms
Bitcoin was little changed near $80,400 since midnight UTC while the DeFi index was the only CoinDesk index to gain, with the Fed due to decide on Wednesday.
Source: CoinDesk
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DW NOTE
Oil is falling while the Strait of Hormuz stays closed, inventories drain at 1.9 million barrels per day, and world supply is down 6% for the year. The price is detaching from the supply shock — either the market expects an imminent reopening Tehran hasn't signaled, or derivatives positioning has finally cracked.