Hawkish Data Stymies Crypto’s Bounce Attempt, Uniswap’s BUIDL Integration a Long-Term Positive

Discussed in today’s video:

• Jobs data surprised to the upside, pushing yields higher and pricing out near-term Fed cuts, which contributed to sideways risk asset performance and muted crypto follow-through.
• Yen strength is a marginal headwind for global liquidity, as carry unwinds can pressure risk assets, something to monitor but not yet a major concern.
• Bitcoin continues to trade more like a growth asset than digital gold, tracking equity style rotations and risk sentiment rather than pure store-of-value flows.
• BlackRock’s integration of BUIDL with Uniswap is a meaningful long-term positive for DeFi and asset quality on-chain, even if near-term fundamentals and price reaction remain muted.

Tickers in this video: BTC