NewsMV
$BTC is in focus after completing its strongest August since 2017, holding its ground against a backdrop of rising oil prices and increasingly firm expectations for a Federal Reserve rate hike in September.
Friday's jobs report is the next event the tape is watching. The resilience reads as notable given the macro setup.
Oil prices moved higher through August, a headwind that has historically tightened financial conditions and weighed on risk assets.
At the same time, bets on a September Fed hike firmed, which typically pressures assets carrying no yield and elevated volatility. Bitcoin absorbed both without giving ground on the August close.
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