THIS IS INSANE 🚀
$13,000,000,000,000 has been added to US stocks in just 9 weeks.
The S&P 500 has now posted 9 consecutive weekly gains, its longest winning streak since December 2023.
💥BREAKING: 🇺🇸 🇮🇷 Iranian Media reports Iran earned over $500,000,000 dollars from Strait of Hormuz toll payments in the past week.
Most of this must have been paid in $BTC or the Chinese Yuan.
As a result of our rates revision for June, some rates are decreasing.
The new APYs will be effective starting June 1st.
$ARB Maker Core: up to 7% APY ➡️ up to 5% APY
$ZIL Maker Core: up to 7% APY ➡️ up to 5% APY
The APYs for other strategies remain unaffected.
🚨 REASONS BEHIND THE CRYPTO MARKET DUMP
1. Renewed attacks on Iran
CBS News reported the US could strike Iran again.
New strikes would spike oil prices, which makes inflation worse. And higher inflation could push the Fed toward rate hikes instead of cuts. Bad for crypto.
2. Clarity Act odds falling
In just 2 weeks, the odds of the Crypto Market Structure Bill being signed into law dropped from 75% to 50%.
Yesterday it was reported the SEC delayed plans to allow tokenized stock trading on the blockchain.
The pushback against crypto has started. Short-term bearish.
3. Bond market stress
Japanese bond yields are hitting new highs and US yields are surging.
High yields make borrowing harder, which hurts risk-on assets like crypto.
What happens next?
$BTC has dropped below $75,000.
If strikes happen this weekend, $BTC could fall toward the $72,000-$72,500 support zone.
If no strikes happen, we could see a strong reversal next week.
@cryptoterry I’d drop the it into @_Earnpark’s Token Sale DeFi before June 2. It earns 50% APY, then the whole thing converts to $PARK at $0.02.
An extra ~1.45% in tokens just for being early isn't something I'd like to miss on.