Wednesday, August 9, 2023

“The greatest danger in times of turbulence is not the turbulence; it is to act with yesterday's logic.” – Peter Drucker ||

Hi all! You’re reading the premium daily version of Crypto is Macro Now, and I’m very grateful you’re here! In this newsletter, I give some depth on factors I’m keeping an eye on that sketch the growing overlap between the crypto and macro landscapes – my focus is on how crypto is affecting the global economy, and vice versa. There is often a market discussion as well, because that is an important piece, not just for the structural changes but also for investor sentiment, which impacts attention and funding. Nothing I say is investment advice!

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IN TODAY’S NEWSLETTER

• BTC on the move?

• Bank oversight

• Base launch

• Oil climbs

WHAT I’M WATCHING

BTC on the move?

Could it be that we actually have some movement on the BTC price?? 😲After hovering around $29,000 for what seemed like an eternity (but was actually only a few days), BTC yesterday briefly rose above $30,000, almost 3% higher than the day’s UTC open. It has since settled back a bit, but seems to be holding at the more encouraging level of $29,800.

(chart via TradingView)

Why it matters: