Brent Tops $106, Rate-Hike Odds Hit 64% as Crypto Sells Off

The macro backdrop is doing the work here: hotter producer prices, a five-year high in long-end yields and oil above $106 are repricing the rate path, and crypto is trading as a high-beta macro asset rather than on its own narrative. Breadth tells the story — the selloff is broad across large non-stablecoin tokens, not idiosyncratic. The outlier is Ether.fi, where a governance-driven buyback is decoupling price from the tape. Whether that macro pressure eases or broadens is the open question.