WS #15548
Bitcoin dropped to $81,000 as geopolitical fears lifted oil prices, though institutional bulls like Tom Lee maintain a long-term bullish outlook. In the traditional macro sphere, US mortgage rates have risen for a seventh consecutive week to near 7.5%, exerting continued pressure on the housing market and consumer discretionary spending. This combination of crypto volatility and rising borrowing costs is weighing on risk assets.
Crypto Volatility and Macro Rates
Bitcoin dropped to $81,000 as geopolitical fears lifted oil prices, though institutional bulls like Tom Lee maintain a long-term bullish outlook. In the traditional macro sphere, US mortgage rates have risen for a seventh consecutive week to near 7.5%, exerting continued pressure on the housing market and consumer discretionary spending. This combination of crypto volatility and rising borrowing costs is weighing on risk assets.