BTC $59,000. 20-month low.

Last year around this time everyone was shouting "digital gold," now gold is at 4,078, June dropped nearly 14,000 points, the entire crypto market is as cold as an ice cellar. Institutional funds are pulling out, the macro environment is unfriendly to risk assets, with the 10Y at 4.37%. The Warsh dot plot points to rate hikes and the dollar is not weak; telling a "safe haven narrative" under these circumstances is really hard to sell. The only interesting thing is that Nasdaq futures are still holding up during the session, and tech stocks seem to want to form a bottom here. But NFP is on Thursday, and any rebound in the middle of such a data week comes with a question mark.
‍#Bitcoin #Gold #Crypto