Bitcoin at $80K: Is the next big shift about price, AI, or security?

So let's get into the market update.

So, yeah, September CPI's numbers came in hot this morning, showing a 3.7% year-on-year acceleration in inflation.

And more than half of that was driven by rising gas prices.

So you've got analysts at Signum Bank arguing that the hot inflation number puts an October rate hike down.

back in play.

Oil, the UTI version of it, has rallied over 8% since Friday of last week and the dollar index DXY Dixie is now at its highest level since April of last year.

The stock market hit new all-time highs last week but is currently in the midst of a pullback which is dragging BTC and the wider crypto markets down with it.

Bitcoin currently trading just above $80,000.

It was pushing 83, 84

earlier in the week.

It should also be noted that AI has also slowed down, right? It probably is weighing heavy on the market.

And many people that I follow talk about how basically AI and its kind of tangential sectors is the only thing that has kept the market afloat up to this point.

So this is all kind of culminating.

Yeah.

Yeah, I heard a very interesting thesis this morning where the gentleman, a hedge fund manager, was talking about how every time you have massive IPOs in the US public markets, it corresponds with a downturn.

So in 1999, 2000, you had some big IPOs representing about 5%.

four percent of the like total market cap then of the of the equities the indices and sure enough you had a pullback around 20 25 of the entire index after that similarly it happened in 2021 and now we of course have spacex the largest ipo ever and it supposedly according to this guy It represents, it alone represents 6% of the entire value of the indices.

And so, you know, if history rhymes, you would expect once those, once the unlocks start to happen and like the unlocks on the SpaceX IPO are kind of unique.

And I think they recognized the impact that this would have.

And so therefore they implemented kind of a crypto strategy.

ESC unlocking schedules on it to try to mitigate some of that.

And then on top of that, you've also got upcoming Anthropic and OpenAI IPOs, which will further sort of add that pressure, right? So the idea is, right, like people want to get into these things And there's just isn't enough money.

They move things from other they move allocations from the other parts of the indices into these.

And it tends to coincide with a with a pullback.

Yeah, this is in crypto.