Trump says Houthis called US seeking no direct strikes

Lead story · conflict — Trump: Houthis 'Don't Want' US In Yemen - So They're Letting Most Red Sea Shipping Through (ZeroHedge)

The Lead

Bitcoin trades near $77,300 with little net movement as oil supply risks intensify around the Red Sea and Hormuz routes. Saudi Arabia closed its East-West pipeline after Iraqi drone strikes, compounding pressure on Brent which has held above $100 while the Houthis advance in Yemen.^[1]

Trump stated the Houthis called the US and do not want direct American involvement, with most Red Sea shipping allowed through except for Saudi vessels. This claim of de-escalation sits against ongoing territorial gains by the group and the fresh pipeline closure.^[2]

US 10-year yields remain near 4.97 percent with the Fed holding a restrictive stance amid energy-driven inflation. No clear capital flight into Bitcoin appears from the conflict zone.

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How this call played outACCURATE

The outlook correctly flagged muted price action and the absence of immediate risk-on flows into Bitcoin; the realised move was a negligible +0.3 percent, confirming the “little net movement” thesis. Narrative-wise, the briefing also noted that the Fed’s hawkish stance and high real yields would continue to drain liquidity, an effect that persisted as Fear & Greed slipped from 61 to 57. No new capital-flight catalyst emerged between the two briefings, so the quiet assessment held.

Lesson: When macro liquidity drains (high real yields, tightening policy) outweigh geopolitical risk premia, Bitcoin’s default reaction is range-bound rather than a risk-asset bid.

Bitcoin over the last 30 days: $77,204, +22.1% on the month.
The month's range runs $63,025 to $81,061 — today sits +22.5% off the low.

Energy chokepoints tighten while Bitcoin stays range-bound.

Monday · The price of money

The 10-year real yield is 2.55%.

Holding cash beats holding nothing again: money has a positive real return, which is the environment every long-duration asset has to argue against. Bitcoin has spent 24% of its life in the opposite regime.

10Y REAL YIELD: 2.55%
DAYS NEGATIVE: 1,397
SHARE OF HISTORY: 23.7%
SINCE: 2010-07-18

Data as of 2026-09-10 · Real Yields → · Free with an account

Go deeper

The Rate Machine
Vienna School · Background to Real Yields
Setting rates is herding, not dialling
Time Preference
Vienna School · Background to Real Yields
Capital, interest, and the structure of production

The Wire

BITCOIN
Revolut Leaks Passports, Bitcoin Transaction Histories to Fake Government Request — Decrypt

ECONOMY
Staked ether should be seen as the benchmark of the decentralized economy — CoinDesk

CONFLICT
Trump sees Iran war ending soon after midterm elections, predicts oil prices will then fall sharply — CNBC

ECONOMY
Oil's roundtrip back to $100. Why China could determine what happens next — CNBC

CONFLICT
US Limits Its Air Defense Coverage For Tankers Sailing Through Hormuz: Report — ZeroHedge

POLITICAL
Christopher Harborne matches £36m Reform donation of Ben Delo — Guardian Biz

Sources (20)

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