Sept 29: Bitcoin Holds $84K Despite $107 Oil

Bitcoin is holding around $84,000 despite Brent crude trading around $106 to $107, Treasury yields above 5% across much of the curve and significant market expectations for another Fed rate hike. Strategy added another 1,665 Bitcoin for roughly $143 million while repurchasing about $152 million of STRC preferred shares, and Tom Lee's BitMine has now accumulated more than 6 million ETH. A Senate investigation also found heavy USDT usage among hundreds of sanctioned Iran-linked wallets, while Tether says it has helped freeze roughly $550 million in Iran-linked USDT this year.

The Bitget hack is also raising a larger philosophical question after attackers attempted to move more than $50 million through NEAR Intents, which intervened despite describing its service as permissionless and uncensorable. Meanwhile, Anthropic's potential IPO is already being traded through synthetic crypto perpetuals before the company actually goes public, and its enormous infrastructure commitments highlight another Bitcoin headwind: AI companies are becoming major borrowers in an already crowded bond market. Vitalik Buterin is also outlining a dramatically different Ethereum architecture for 2030 built around cryptographic proofs, formal verification and quantum-resistant technology.

Happy HODLing

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