While some prices went up, others got left out.
Brent crude jumped nearly 5% this week. Bitcoin dropped 3% over the same stretch. A very familiar feeling.
The Hormuz stand-off between the US and Iran is back driving oil, with Brent testing $86 a barrel and Washington threatening fresh economic measures.
Meanwhile Wall Street shrugged it off entirely. The S&P 500 closed at a record high, powered by soft jobs data and quiet hopes of a deal.
Crypto wasn't so lucky. Bitcoin slipped toward $63,000 as US regulators stalled on new crypto rules and traders took profit.
Here at home, the numbers told their own story. Unemployment climbed to 33.6%, another 345,000 people out of work. But the PayInc index, which tracks money actually moving through the economy, ticked up in July. It's a messy picture. It's also exactly the kind of environment 80eight was built for: money that keeps moving, whichever way the headlines go.
We wrote about bitcoin's own quiet moment this week too, its 200-day average. Worth a read either way.
Talk soon,
The 80eight team
