Bitcoin Slides Towards $81,000 as Oil Above $110 Revives Rate-Hike Bets
Bitcoin Magazine Bitcoin Slides Towards $81,000 as Oil Above $110 Revives Rate-Hike Bets Bitcoin is currently in so-called Uptober, a month when the asset is supposed to rally. But it’s being held back — at least for now. This post Bitcoin Slides Towards $81,000 as Oil Above $110 Revives Rate-Hike
Source: Bitcoin Magazine
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DW NOTE
Bitcoin fell 4% toward $81,000 because Brent crude is trading at $113 — up 81% year-over-year — and the Strait of Hormuz has been effectively closed for five days. Markets are pricing a supply shock that has already happened, not one that might. The Fed raised rates to 3.90% in September and oil this high guarantees they hold through year-end.