Bitcoin News
By Dan Saada
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U.S.-Iran Strikes Push Oil Past $95. Overnight, the U.S. and Iran exchanged new hostilities centered on the Strait of Hormuz — one of…
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Strategy's Buy Didn't Move the Needle. Strategy — the largest corporate Bitcoin holder on the planet — did step in and buy during the dip.
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Friday's Jobs Data Could Shift Everything. The next major catalyst is probably Friday. U.S. nonfarm payrolls data drops then, and it'll go a…
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Bitcoin fell hard Tuesday. The price slid to $77,500, wiping out a chunk of the nearly 25% gain it posted through August.
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The August rally had a pretty clear engine: falling yields. When borrowing costs drop, speculative assets tend to get a lift. Bitcoin rode that wave.
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Overnight, the U.S. and Iran exchanged new hostilities centered on the Strait of Hormuz — one of the world's most critical shipping chokepoints.
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Oil jumped above $95 a barrel on the news. That's the kind of move that spooks bond markets fast, and it did. Government yields rose across Japan, Australia, the U.S.
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Inflation fears are back. Oil above $95 feeds directly into price pressures, and the Fed has made it pretty clear it won't hesitate to act if inflation data turns ugly again.
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The damage spread well beyond Bitcoin. Solana dropped sharply. The TRUMP memecoin fell significantly too. BNB held up better than most, slipping just 0.
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Related: Dollar Soars to 105.36 as U.S.-Iran Tensions Fuel Market Jitters
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That kind of synchronized decline is worth paying attention to. When Bitcoin, Solana, and memecoins all fall together on the same day, it's not a crypto story.
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The next major catalyst is probably Friday. U.S. nonfarm payrolls data drops then, and it'll go a long way toward telling markets what the Fed is likely to do.
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Weaker jobs data flips the script. A soft payrolls print could ease the rate hike narrative, pull yields back a bit, and give crypto some breathing room.
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Between now and Friday, Bitcoin seems likely to track oil prices and Treasury yields more closely than anything happening inside crypto itself.
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See also: Firelight Secures $8M to Expand DeFi Insurance for Bitcoin and XLM Holders
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