First
After hitting a fresh ATH tonight at 124k Bitcoin is weak today, its price loosing several thousand dollar. One reason behind is probably the remarks of US Secretary Bessent made in an Fox interview today: The US is not planning to actively buy Bitcoin for their strategic reserve.
Second
But there is another interesting point: He stated that the current BTC reserve is worth „somewhere between 15 to 20 billion“ at current prizes. But that would be only 130-165k Bitcoin. So far the estimation for the current US strategic reserve was 200k BTC. Why is it far less? Quite a dissapointment if you‘re asking me.
Inflation
In addition we got US producers price reports on today and they were hotter than expected. This means potentially higher inflation again and maybe no rate cuts in September. The probability is still 90% for a first cut next month but who knows…FUD seems back.
