Goldman's buying bitcoin ETFs, Tether's buying gold, and bitcoin doesn't budge

00:00 Scott Melker

PPI came in soft, which should be good news for markets but Bitcoin once again shrugged it off proving that nothing can make Bitcoin price move right now. But in the back, there's a lot of news that could fundamentally drive prices higher once we see some real bull market momentum. We're going to talk about all that right now on the Daily Wolf. Let's go.

00:23 Scott Melker

What is up everybody? Welcome to the Daily Wolf on Yahoo Finance. I am your host Scott Melker, also known as the Wolf of all streets. We've got 15 minutes to cook cook through all of the news that is driving markets. And as I said, they seem to be driving our market nowhere. Bitcoin stuck in the purgatory of 60 to $65,000 seemingly forever.

00:59 Scott Melker

leading many to wonder where is that beautiful volatility that Bitcoin is so famous for. But I would like to remind you, in the history of Bitcoin, if you look back almost all of the price action to the upside comes in roughly 10 days of the year. Bitcoin spends most of its time floating down or floating sideways boring, but man, when it catches a bid, it catches a bid hard. What it's doing right now is classic summer doldrums, bear market downside, apathy, all of that. But the fact that price hasn't moved does not mean that it never will. Just to show you really quickly before we really get into the first story.