This morning, Brent crude oil surged to $99.67—$100 is basically within reach. Tomorrow, the 10th, we’ve got PPI, and the day after, the 11th, it’s CPI. If the data over these two days exceeds expectations, a rate hike in September will pretty much be a done deal. Oil prices directly impact inflation, and now even the expectation of another hike in December is heating up. It’s hard to say if the market can handle one rate hike, let alone two in a row this year. If that happens, U.S. Treasury yields will keep climbing, and risk assets like U.S. stocks and $BTC won’t have a good time. The market for the rest of the year is going to look rough.