Oil Nears $100 as Inflation and Rate-Hike Risks Rise, Sending Bitcoin Lower

  • Brent crude neared $99.5 as Bitcoin fell below its $79,000-$80,000 range.
  • Bitcoin traded at $78,457.5, while WTI settled at $93.03 and the 10-year yield reached 4.789%.
  • Four.meme launched 4Stock on BSC, linking BNC shares, BNC4 and 4STOCK.

Brent crude approached $99.5 a barrel as the U.S.-Iran conflict extended toward Saudi energy infrastructure, while WTI settled at $93.03 and the U.S. 10-year Treasury yield climbed to about 4.789%. Combined with strong nonfarm payrolls, the higher oil price renewed inflation concerns and increased expectations for a September U.S. rate hike. U.S. stocks fell after the long weekend, with the Dow down 1.18%, the S&P 500 down 0.58% and the Nasdaq down 0.32%. Bitcoin slipped to about $78,457.5, below its previous $79,000-$80,000 range, while Ether traded near $2,485. Bitcoin's near-term support is identified at $77,500-$78,000, with $79,000-$80,000 becoming initial resistance and a move above $81,000-$82,000 needed to reverse the defensive structure. In crypto markets, Four.meme launched 4Stock on BSC, using CEA Industries shares as the underlying asset and linking the BNC4 on-chain equity token with the 4STOCK Meme token. BNC4 briefly traded at nearly eight times the price of BNC shares, while 4STOCK's market capitalization exceeded $80 million before arbitrage narrowed the gap. Other market developments included new derivatives exposure for Solana's USELESS token, renewed activity around Robinhood Chain's PONS, and the planned launch of Base token LAPTOP. Macro and industry developments included new U.S.-Iran strikes, a Putin-Trump call, Block's trust-bank application, Visa stablecoin initiatives and several scheduled economic releases and token unlocks.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.
Oil Nears $100 as Inflation and Rate-Hike Risks Rise, Sending Bitcoin Lower - CoinPost Terminal