Bitcoin · Strait of Hormuz · CoinDesk
Daybook will not be published on Monday, May 25 due to the Memorial Day holiday
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The current state of financial markets is best described as macro-geopolitics first, crypto second.
Key facts
- It is no surprise, therefore, that U.S. spot bitcoin ETFs continue to bleed, recording $1.15 billion in outflows this week after $1 billion last week, according to SoSoValue
- Meanwhile, oil remains elevated near $100 and speculative capital is pouring into copper amid fears of a sulfur shortage
- Daybook will not be published on Monday, May 25 due to the Memorial Day holiday — This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already
Summary
This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already. Daybook will not be published on Monday, May 25 due to the Memorial Day holiday. Meanwhile, oil remains elevated near $100 and speculative capital is pouring into copper amid fears of a sulfur shortage. In essence, everything is revolving around Hormuz, driving commodity flows and prices higher, stoking inflation fears, lifting bond yields, which are supposedly weighing over crypto.