The 60-day ceasefire extension is on Trump's desk awaiting signature. Global stocks hit records. Oil cracked. Crypto stayed on the sidelines.
That last sentence is the entire story. The Iran peace signal moved equities and bonds immediately. Bitcoin and altcoins did not follow. CoinDesk analysts say the next catalyst for crypto is now regulatory — not geopolitical. The market has stopped trading the Iran headline and is waiting for the CLARITY Act Senate floor vote in June.
The ceasefire terms include Iran removing mines from the Strait within 30 days and allowing unrestricted shipping. UBS still sees "little evidence" of actual vessel traffic improvement. A signed MOU is step one. Physical Hormuz normalization is step two. Oil below $90 is the macro unlock crypto has been waiting for since February.
ETF picture going into the weekend: eight straight days of Bitcoin ETF outflows erased $2.6 billion since May 15. Tuesday alone saw $733 million in outflows — the single worst day since January 29. The buyer drought is real. CryptoQuant confirms the record high in long-term holder supply reflects a shortage of new buyers, not conviction from existing ones.
CME began 24/7 crypto futures trading yesterday. The infrastructure keeps building while the price compresses.
That last sentence is the entire story. The Iran peace signal moved equities and bonds immediately. Bitcoin and altcoins did not follow. CoinDesk analysts say the next catalyst for crypto is now regulatory — not geopolitical. The market has stopped trading the Iran headline and is waiting for the CLARITY Act Senate floor vote in June.
The ceasefire terms include Iran removing mines from the Strait within 30 days and allowing unrestricted shipping. UBS still sees "little evidence" of actual vessel traffic improvement. A signed MOU is step one. Physical Hormuz normalization is step two. Oil below $90 is the macro unlock crypto has been waiting for since February.
ETF picture going into the weekend: eight straight days of Bitcoin ETF outflows erased $2.6 billion since May 15. Tuesday alone saw $733 million in outflows — the single worst day since January 29. The buyer drought is real. CryptoQuant confirms the record high in long-term holder supply reflects a shortage of new buyers, not conviction from existing ones.
CME began 24/7 crypto futures trading yesterday. The infrastructure keeps building while the price compresses.