Bitcoin reclaimed US$64,000 in a week where everything pointed the other way: oil up 5%, markets pricing a possible September rate hike. ETF flows turned positive after the worst month on record. Now the real tests, Tuesday's US inflation print and Fed Chair Warsh's first testimony.
Markets have moved quickly to price in a US-Iran peace deal and improving macro conditions. Crypto has participated, but more cautiously. This week's VIP Desk explores what's driving the divergence and the signals that could determine what comes next.
Renewed uncertainty around the Fed’s rate path and Moody’s downgrade of the US credit outlook pressured global risk assets this week. Bitcoin tested key support levels as macro sentiment deteriorated across risk markets.