Macro· ★★★★· bearish·

Oil above $111 pressures bitcoin: miners below production cost, Fed tilts toward a hike

  • —Brent near $112 (+2%), WTI at $98.98, highest since May
  • —US CPI rose to 3.7% year-on-year in September from 3.4%
  • —94 of 100 Reuters economists expect a Fed hold on Oct. 28
  • —BTC at $82,700 sits below JPMorgan's $85,000 production cost estimate
Why it matters: Higher oil feeds inflation and pushes the Fed toward a hike, weighing on risk assets and miner profitability.
#BTC
Source: Journal du Coin
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