Macro· ★★★· bearish·

Wintermute: Bitcoin pressured by oil rally and Fed tightening risk

  • —BTC fell for a third straight week, touching $80,500
  • —Spot bitcoin ETFs saw $636 million in daily outflows
  • —Brent crude rose 5.7% to $116.72 a barrel
  • —A move above $120 could make a December hike the base case
Why it matters: Oil prices and ETF flows now drive bitcoin: losing $80,000 opens the door to $76,000 and below.
#BTC
Source: Digital Today
More on this
Macro · Oct 2
China and Russia Tighten Fuel Exports, Raising Inflation Risk and Pressure on Bitcoin
 Macro · Oct 22
Oil above $111 pressures bitcoin: miners below production cost, Fed tilts toward a hike
 Markets · Oct 9
Bitcoin risks drop below $80K as oil and Treasury yields pressure risk assets