Bloody Monday: Crypto Crashes, Oil Surges, Gold Dumps
The numbers:
· Bitcoin: $76,985 (-1.5%) – broke below $77K
· Ethereum: $2,108 (-3.4%)
· Liquidations: 108K traders, $656M wiped
· Crypto Fear & Greed: 38 ("Fear")
· Gold: below $4,500 (-1%)
· Brent Oil: $110.63/bbl (+1.2%)
· US 10-Year Yield: 4.584% (+23 bps weekly)
Why it's happening:
Drone attacks hit UAE and Saudi Arabia. Strait of Hormuz remains closed. Oil supply fears are spiking inflation expectations. Fed rate cuts are off the table – a hike is now 50-50.
Geopolitical hot spots:
· Israeli strikes kill 5 in southern Lebanon (2 children)
· Indian worker killed in Moscow drone attack (over 120 drones)
· Israel applies death penalty law to Palestinians in West Bank
Good news:
CLARITY Act passed Senate Banking Committee – crypto regulation is moving.
What to watch this week:
· Nvidia earnings (Wed) – the AI trade test
· Fed minutes (Thurs) – rate path clues
The bottom line:
Risk assets are bleeding. Oil is pumping. The Fed isn't cutting. Brace for volatility.