1. Trump: The blockade of the Strait of Hormuz will continue until an agreement is reached with Iran.
US President Trump stated that the blockade measures in the Strait of Hormuz will remain in effect until an agreement is reached with Iran. - Original
2. The Republican Party in the US is pushing for the (ARMA Act) legislation, aiming to establish a national Bitcoin reserve.
Republican lawmakers in the US are advocating for the (ARMA Act) legislation, with plans to create a national Bitcoin reserve targeting a long-term hold of about 5% of the global Bitcoin circulating supply. According to Bitcoin News, the GOP aims to bolster the US's dominance in the global digital asset ecosystem. - Original
3. Spot gold up 1% to $4,552.92/oz, NY silver up 2% to $77.77/oz.
4. CME data: 67.9% chance of a Fed rate hike this year, with a 42.5% chance of a cumulative 25 basis point hike.
According to CME's FedWatch data, there's a 32.1% chance the Fed will hold rates steady until December, a 42.5% chance of a 25 basis point hike, a 20.6% chance of a 50 basis point hike, a 4.4% chance of a 75 basis point hike, and a 0.4% chance of a 100 basis point hike. -Original
5. Tom Lee: BitMine's ETH holding paper loss could expand to $10.1 billion.
As reported by Cointelegraph, with Ethereum continuing to weaken, Tom Lee's BitMine has seen its ETH reserves paper loss expand to about $7.35 billion. Analysts suggest that ETH is currently near the lower edge of a bearish 'rising wedge' structure, and if it breaks support, the price could dip into the $1,600 range, representing a roughly 25% drop from current levels. If this scenario plays out, based on BitMine's average holding cost of about $3,513, their unrealized loss on ETH could balloon to about $10.1 billion. Despite the growing losses, Tom Lee stated he will stick to a long-term accumulation strategy, aiming to hold 5% of Ethereum's total supply by December this year. -Original
6. The US-Iran conflict pushed US Treasury yields up to 4.58%, which could lead to an increase of $30 billion in fiscal interest expenditures.
According to the Financial Times, the US-Iran conflict has driven oil prices and inflation expectations higher, with the US 10-year Treasury yield rising to 4.58%, exceeding the Congressional Budget Office's forecast of 4.13%. The 30-year Treasury yield has reached its highest level since 2007. If the current yield persists until the end of this fiscal year, US fiscal interest expenditures will increase by about $8 billion; if it continues until the 2027 fiscal year, additional interest costs will exceed $30 billion. The market is worried that rising oil prices and expanding deficits will fuel inflation and exacerbate the Treasury sell-off. Some Wall Street investors believe the Fed is underreacting to inflation risks, and there is discussion about the possibility of the Treasury issuing more short-term debt or the Fed restarting 'operation twist'. -Original
7. Mark Cuban: Bitcoin fell during a surge in gold prices, failing to demonstrate its anti-inflation properties.
8. Kevin Hassett: Falling oil prices may create room for the Fed to cut rates.
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