The labor market remains surprisingly steady while inflation stays elevated—a combination that's been pumping up appetite for risk across stocks, metals, dollar, and crypto alike. Even with geopolitical tensions flaring up around Venezuela and Iran, the broader market's holding its ground pretty well. Oil's grabbed its premium from those issues, but equities and crypto haven't flinched much.

Bitcoin just smashed through that stubborn $95K resistance level that had been capping it for a while now. This move reflects the resilience rippling through risk assets generally. The inflation narrative—neither cooling too fast nor running wild—keeps traders in that sweet spot where they're comfortable reaching for higher-yield bets. As long as the job numbers stay solid and price pressures don't spark fresh Fed concerns, this risk-on environment could have legs.