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Bitcoin dips under $82k as oil prices rise and tech stocks slide

Bitcoin dips under $82k as oil prices rise and tech stocks slide

Bitcoin dipped 1.8% to around $81.6k today, dragging the rest of the crypto market down with it. It looks like some standard profit-taking after the recent run-up. Risk sentiment also took a hit because oil jumped over 3% on Middle East shipping attacks and Gulf Coast weather issues. Tech stocks were down too. A report came out saying OpenAI's annualized revenue is actually about $20 billion lower than they previously signaled to investors. On the macro side, bond yields cooled off a bit, with the 10-year Treasury dropping to 5.22%. The market is currently pricing in an 82% chance that the Fed holds rates steady this month, despite the recent meeting minutes showing policymakers still want one more hike by year-end. There were also a couple of updates for Solana. They partnered with Samsung to support USDC payments on Samsung Wallet, and a company called Securitize is launching tokenized shares of Apple, Nvidia, and Microsoft on the network. SOL still dropped 4.2% today regardless.
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@TallDrive706 3 days ago

Macro pressure is clearly weighing on risk assets right now. Bitcoin and tech could stay volatile until oil and rate expectations settle down.