‘Rotation Underway’ in Crypto Markets, Oil Heading Towards $50?
Schwab Network · Schwab Network
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Show Notes
Phil Streible reviews the week in the commodities market. He says the U.S. dollar could take a turn down, potentially testing the 97 level or below. Oil’s slide could also be opening up the door for a bigger sell-off, with “plenty of supply” on the market and the Trump admin trying to push prices into the $50s. He identifies a “rotation underway” in the crypto market as Bitcoin falls and Ethereum climbs. However, he thinks Bitcoin could still hit $130K or higher. Gold hit a record high today, and Phil says the “only problem” is that it’s beginning to make a series of lower highs.
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