Bitcoin Holds Near $64K as Vanguard Bets Inflation Is Underpriced
The post Bitcoin Holds Near $64K as Vanguard Bets Inflation Is Underpriced appeared on BitcoinEthereumNews.com. Crypto News Vanguard Asset Management has opened a long position in short-dated US inflation-protected Treasuries, betting that markets are underpricing the risk that price pressures stay elevated. The move by the firm’s active-funds team follows a sharp widening in the crack spread — the gap between refined-fuel prices and the crude oil used to produce them — to its highest reading since 2022. For a bond desk, that signal rarely registers. Our reading is that it matters far beyond fixed income: sticky inflation reshapes rate-cut expectations, and every rate-sensitive risk asset, Bitcoin (BTC) included, trades off that path. The hedge is a direct wager that disinflation is not yet finished. The crack spread is a staple gauge for oil traders but an obscure one for macro investors, which is precisely why this move stands out. It has widened to levels last seen in 2022, even as