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Bitcoin
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Affairs
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No. 098 ยท 2 Sept 2026
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MARKET SNAPSHOT
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BTC / USD
$76,840
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24H CHANGE
-1.4%
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ALL-TIME HIGH
$124,749
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FROM ATH
-38.4%
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Iran escalation drives oil toward $95 and intensifies the global bond selloff
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Another round of U.S. strikes on Iran pushed Brent crude to about $95 and lifted U.S. oil back above $90, reviving inflation fears across markets. The move fed a broader bond selloff, drove Treasury yields higher and tightened the macro backdrop for bitcoin and other risk assets entering September.
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| Geopolitics Macro Rates |
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July job openings stay firm, keeping Fed hike pressure on risk assets
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The U.S. reported 7.3 million job openings in July, with hires and total separations both little changed at 5.1 million. The data do not show enough labor-market cooling to materially ease hawkish Fed expectations ahead of the September meeting, leaving pressure on rate-sensitive assets including bitcoin.
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BlackRock-led bitcoin ETF withdrawals erase Mondayโs rebound
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U.S. spot bitcoin ETFs posted a combined $236.5 million net outflow for September 1, reversing the prior sessionโs inflow. BlackRockโs IBIT accounted for $201.2 million of the withdrawals and Fidelityโs FBTC lost $43.7 million, underscoring shakier institutional demand as macro conditions worsened.
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Adam Back funds Capital B raise to buy up to 376 more bitcoin
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France-listed Capital B said Adam Back subscribed to a โฌ7.6 million private placement priced at a 15.4% premium to the prior close. The company said the proceeds, alongside ongoing operations, could fund 376 additional BTC and lift potential holdings to 3,521 BTC.
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Hyperscale Data sells 65 bitcoin, bucking the corporate accumulation trend
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Hyperscale Data said it held 214.9701 BTC as of August 30, worth about $16.7 million at that dayโs close, after selling roughly 65 BTC during the prior week. The update stands out because it shows a smaller public bitcoin holder actively trimming exposure while larger treasury firms keep raising capital to buy more.
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COMMENTARY
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โ ๏ธ Demand is declining again !
This is somewhat what I was concerned about seeing.
While selling pressure remains consistent, with STHs continuing to realize profits, apparent demand has turned negative again.
This is a sign that demand has declined significantly over the past few days.
This can also be seen in BTCโs price structure, which is becoming increasingly ugly.
Without a recovery in demand in the very short term, BTC could begin another leg lower.
Stay cautious. Nothing is guaranteed yet.
8 reposts 6 replies 85 likes
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JUST IN: Global bond markets are selling off hard.
This is bigger than just bonds.
The US 10-year yield has climbed to around 4.78%, its highest level since early 2025.
Japanโs 10-year yield hit 3% for the first time since 1996.
German 10-year yields are at their highest since 2011, while UK 10-year yields have risen to their highest level since 2008.
So whatโs driving it?
Oil has pushed above $90 as tensions in the Middle East escalate, increasing fears that inflation could stay higher for longer.
At the same time, markets are pricing a more hawkish path from central banks, while governments continue issuing huge amounts of debt.
That combination is putting serious pressure on bonds.
And this matters for Bitcoin.
Higher yields increase the opportunity cost of holding risk assets and tighten financial conditions across markets.
The next thing Iโm watching is whether rising yields start forcing a bigger repricing across stocks, crypto and other risk assets.
This is one of those macro moves that can become much bigger than the headline suggests.
25 reposts 12 replies 153 likes
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Bitcoin ETFs sold $236,460,000 in bitcoin:native yesterday.
The largest outflow in 4 weeks. https://t.co/kMBn9b7MzY
34 reposts 50 replies 381 likes
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๐ Futures demand also appears to be weakening.
The 30-day average Net Taker Volume is declining after going through a fairly positive phase, similar to what we observed in May 2026.
In other words, the optimism we saw as BTC broke above $65,000, with the Taker Buy/Sell Ratio reaching 1.21 on August 19, is now losing momentum as investors increasingly take short positions in the market.
Net Taker Volume has already fallen from $213.7B to $97.8B within just a few days.
The Taker Buy/Sell Ratio has now been negative since August 30.
For those unfamiliar with this metric, it compares buy and sell order volumes in the futures market.
It provides insight into investor sentiment and positioning in futures, which remains the market segment with the largest trading volumes compared with spot and ETFs, and is therefore capable of driving the broader market.
In the very short term, we can therefore see that the situation is beginning to deteriorate.
4 reposts 3 replies 38 likes
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BTC is still up 18% since Bessent's comments.
Meanwhile, gold retraced the entire pump and is down an extra 3%.
It has also been relatively strong versus stocks on a day-to-day basis.
Is BTC truly back, or simply lagging? https://t.co/fof3Mb7MqK
6 reposts 24 replies 178 likes
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BREAKING: ๐จ $85,000,000,000 wiped from the crypto market as the US-Iran conflict intensifies.
It's happening again. https://t.co/64XvAisfiX
112 reposts 92 replies 978 likes
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