Disappointing US economic data pushed the dollar to its weakest level since early June, providing modest support to Bitcoin above $64,000, Ethereum near $1,907, and Solana above $75. The Fear & Greed Index remains stuck at 31 in fear territory for the third consecutive week, signaling a market that wants to rally but lacks conviction. Geopolitical tensions around the Strait of Hormuz, through which roughly a fifth of the world’s daily oil supply passes, add another layer of uncertainty following Trump’s threat to bomb Oman. This situation creates a direct conflict for digital assets: if tensions escalate and oil prices spike, inflation could return and offset the current tailwind from dollar weakness.
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