First day of August, and WTI oil prices bounced back to around 87. The U.S. and Iran have started a new round of clashes—looks like the concerns about rising geopolitical risks after the Fed meeting were spot on. I mentioned before that the Fed meeting was one key point for geopolitics, and the other is the 8/12 CPI release. This weekend might not be a calm one. That said, with midterm elections approaching, neither side has much time left. High oil prices can’t be sustained for long. Regret not catching that swing when it dropped below 78 earlier. Right now, I’m holding short positions on oil prices on Binance, and I’ve also opened shorts on OKX. Hoping geopolitical risks ease up soon. After all, Bitcoin’s previous 628-652 range has now dropped below 63, and I’m looking to catch this move too. The market’s not great, so I’m just riding the swings on BTC (honestly, ETH follows BTC’s lead, and the moves are decent too). Speaking of U.S. stocks… Still holding SPCX spot contracts. Not too worried about the floating loss on oil prices. It’s all about SPCX—let’s see if things improve around the earnings report next week. Overall, there’s no Fed meeting this month, so macro factors remain the main storyline. If geopolitical tensions ease and de-escalate again, oil prices could drop, which would give some boost to U.S. stocks and BTC. But that alone might not be enough—most likely, we’ll see more choppy action. DYOR.