Crypto traders are increasingly treating the market as a macro-driven tape, as a cluster of oil and geopolitics headlines—ranging from the Strait of Hormuz to OPEC+ supply plans—dominated Telegram conversations and spilled into broader risk-asset sentiment. The same discussions also carried renewed warnings about continued spot Bitcoin (BTC) ETF outflows, reinforcing a cautious tone across digital assets.
The dollar's decline amid receding rate-hike bets boosts crypto, highlighting market sensitivity to economic data and Fed policy shifts. Dollar nears two-week lows as rate-hike bets recede, sending Bitcoin and Ether sharply higher.
Bitcoin (BTC) spiked to nearly $64,000 in the early hours of July 6, reaching $63,900 on CoinGecko, extending a weekend rally that liquidated hundreds of millions of dollars in short positions.