Bitcoin

Australia's rapid renewable adoption contrasts with global energy volatility; however, the crypto market is currently driven more by macro headwinds (Fed policy, liquidity) than by energy prices. The extreme fear reading (12) suggests the market is pricing in recession risk, not energy cost improvements.

Australian energy minister announced a fall of up to 10% in benchmark electricity price in parts of the country, coinciding with the demolition of two chimneys at a major power station.

Demolition of Australian Coal Chimneys Signals Shift in Energy Landscape — and a Potential Win for Crypto Miners

Demolition of Australian coal chimneys signals death knell for anti-Bitcoin energy narrative — cheaper renewables make PoW mining greener and more profitable.