Bitcoin weathers September storm as rate hikes and Clarity act setback test bulls
Bitcoin is down just 1.5% in its historically weakest month and remains on track for its first quarterly gain in a year, despite rising rates, surging oil and a stronger dollar.
Source: CoinDesk
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DW NOTE
Bitcoin is holding $78,000 two days after a rate hike and with oil at $102 — not because the macro environment is friendly, but because the Fed hiked into a supply shock it cannot solve and the market knows it. The Strait of Hormuz is effectively closed, the 10-year yield just hit 5.01%, and bitcoin is flat for the week while bond volatility spikes.