Phyrex|Jul 17, 2026 19:57
Still gotta give props to bitcoin:native today. While the Nasdaq has been dropping over 1% daily, Bitcoin is holding steady at $64,000, even seeing a slight uptick today. This shows that as funds pull out of AI and semiconductors, some are starting to pay attention to Bitcoin. It’s not just about increased buying power but also a reduction in sell-offs by holders.
Recently, Bitcoin trading has been focused on dual-token strategies: buying at the low of $62,000 and setting sell orders for $65,000 next Tuesday. Both sides are bringing in around 20% in premium income. Weekend price fluctuations should be minimal, so the focus is on next week. There’s no major data release on Monday, and trading wraps up at 4 PM on Tuesday. Hopefully, the price doesn’t spike too much—I’m not really looking to sell at $65,000.
As for tonight, WTI at $82 and Brent at $86 both got filled. The U.S.-Iran conflict seems to be heating up again. My WTI cost basis is $78.72, and Brent is at $82.9. Regarding the war, I still stand by my assessment: while the U.S. and Iran have resumed skirmishes, both sides are exercising restraint to avoid the conflict spiraling out of control beyond the region.
That said, it’s becoming increasingly difficult for both sides to maintain this balance. Just now, an advisor to Iran’s Supreme Leader, Rezai, stated that if the U.S. continues its attacks over the next two to three days, Iran will abandon its previous deterrence and proportional retaliation strategy, shifting to a full-scale offensive and destruction phase. He also mentioned that Iran’s restraint so far has been to prevent regional spillover, while the U.S.’s attacks haven’t been particularly aggressive. Both sides seem to be waiting for a way to de-escalate.
Prolonged conflict benefits neither side, so my personal take is that the war’s impact on oil prices should be limited. Especially now that the Brent-WTI spread has widened to over $6, shorting Brent seems like a better play compared to WTI.
Let’s see what Trump has to say over the weekend.
@Gate Crypto, U.S. stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all-in-one trading platform.
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