Bitcoin dropping after Strategy sold is a reminder that sentiment can change quickly, even in strong long-term trends. For me, the bigger story is oil. If disruptions around the Strait of Hormuz persist and Brent moves toward $100, inflation could reaccelerate and make central banks more cautious. That would have implications for stocks, crypto, and bonds all at once.
Oil Collapses, Megacaps Rally — Has the Election Reset Risk?
QQQ gained 0.96% and SPY 1.64% Wednesday after Democrats won both chambers. Microsoft rose 6.73%, Amazon 6.10%, and Apple 5.36% as investors favored cash-generative mega-cap tech. By early Nov. 5 Beijing time, WTI had fallen 8.82% and Brent 9.13% on hopes of easing U.S.-Iran tensions and resumed Hormuz shipping. Bulls see relief for inflation and rates; bears note weakness in chips and unresolved AI capex and regulatory risks. What will decide if the rebound lasts: mega-cap tech, chip breadth, or oil?
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