Oil prices nearing $100: What the market truly fears is a hawkish turn on interest rates Middle East supply risks are driving oil prices higher, but the issue isn’t just energy—it’s the potential to reignite inflation. Oil price increase → Inflation pressure rises → Less room for rate cuts / Higher rate hike expectations → Increased funding costs → Cooling risk appetite Bitcoin Liquidity and risk appetite are under pressure. While inflation could strengthen the narrative around scarce assets, BTC typically feels the impact of higher funding costs when rate expectations rise. Gold Safe-haven demand provides support, but higher real interest rates weaken the appeal of non-yielding assets, creating a tug-of-war between "safe-haven buying and rate pressure." US Dollar Energy-driven inflation may support the Fed’s hawkish stance, but factors like safe-haven flows and unwinding yen carry trades could lead to mixed performance and heightened volatility for the dollar. Nasdaq Rising long-term rates increase valuation discount pressure on tech stocks; energy costs and market risk-aversion sentiment may further limit risk appetite. Key Data Reminder｜UTC+8 Not much major data today. September 10, 20:30｜US August PPI, previous monthly rate: 0.0% September 11, 20:30｜US August CPI, previous monthly rate: +0.1% ⚠️ Overall Risk: Elevated This is due to the combined impact of energy supply shocks, inflation data, and rate expectations. The four asset classes are likely to experience directional divergence and amplified volatility. What do you think will be the first narrative shift in this round of energy shocks—gold, the dollar, or BTC? Daily Market Radar bitcoin:native Gold Nasdaq