Bitcoin

This supply shock is not a one-off weather event but the culmination of decades of consolidation, rising input costs (feed, fuel, labor), and climate-driven drought patterns. It reinforces the thesis that structural inflation in food and energy is becoming embedded, which keeps interest rates higher for longer and dampens risk asset appetite. For crypto, this macro headwind compounds existing market fear (F&G 12) and weakens the narrative of Bitcoin as an inflation hedge in the short term.

U.S. beef and dairy cattle herd shrinks to lowest level since 1951 due to drought, rising costs, and consolidation.