Bitcoin Warning: Why This Weekend Could Be ‘Highly Eventful’ as War Enters 2nd Month

It was precisely a month ago when the US and Israel joined forces to carry out military strikes against several Iranian sites, including killing the nation’s Supreme Leader, in what was advertised as a relatively quick operation. Although Trump bragged several times that the US is ahead of schedule and the war would be over soon, there’s still…

Key takeaways

Quick scan — what you need to know:

• It was precisely a month ago when the US and Israel joined forces to carry out military strikes against several Iranian sites, including killing the nation’s Supreme Leader, in what was…
• Although Trump bragged several times that the US is ahead of schedule and the war would be over soon, there’s still no clear end in sight after Iran rejected the ceasefire proposal.
• Here’s why the next 48 hours could be pivotal, though.
• Eventful Weekend Ahead Aside from the lives taken, infrastructure destroyed, and relationships crashed, the war has taken a big toll on the world’s economies, different assets’ prices,…

Background

What led here, in plain terms:

• One of the most volatile of those assets has been, expectedly, oil.
• After a massive rollercoaster, including double-digit gains to multi-year peaks and subsequent, similarly volatile retracements, oil prices closed on Friday at just over $100/barrel.
• At the same time, the S&P 500 is at a multi-month low, while the US 10Y Note Yield is close to 4.5% According to the analysts at The Kobeissi Letter, Trump “must contain the bond market…
• “If there is no progress made on peace talks and a resolution to the ongoing energy and bond market crisis by the futures open on Sunday at 6 PM ET, we will see the 10Y Note Yield above 4.50%…

Why it matters

Why readers and decision-makers should care:

• Moreover, the past month has shown that its fluctuations intensify once those legacy markets open.
• For now, BTC has bounced above $66,000, but it’s still 6% down on the week, and there’s likely to be more volatility ahead in the next few days.
• The post Bitcoin Warning: Why This Weekend Could Be ‘Highly Eventful’ as War Enters 2nd Month appeared first on CryptoPotato.