Bitcoin users moved 39,600 BTC in small transactions following the Coldcard hack, marking the largest such movement since FTX. The attack is still active. Apparently, not every wallet is a cold wallet.
Iran has reportedly targeted energy infrastructure in Saudi Arabia, the UAE, Qatar, and Israel, signaling a potential escalation of regional conflict by 2026. Geopolitical risk premiums are back on the menu.
The US intervened in FX markets to purchase Yen for the first time since 1998, a move that coincided with a dip in Bitcoin. The carry trade unwind risk is back on the menu.
Iran has threatened to close strategic waterways, a move that would disrupt global shipping and oil markets. Geopolitical risk often rises faster than it falls.
The Caspian Pipeline Consortium is considering suspending oil operations due to increasing drone threats. This could further tighten global energy supply. Good for oil, bad for everything else.
Crypto treasuries are shifting capital toward AI data center funding. Quantum sold 1,000 ETH and Hyperscale monetized 100 BTC to back a new facility. The rotation into compute power continues.
Bitcoin mining difficulty declined by 19.9% from its peak as hashrate falls. This suggests some miners are capitulating, though their public stocks are still catching an AI bid.
Iran has reportedly struck US ships in Egypt, signaling increased maritime security risks and potential disruptions to global shipping. Geopolitical tensions continue to develop.
Iranian-backed forces reportedly struck a US air base in Kuwait. Bitcoin slid toward $100,000, triggering over $700 million in liquidations. Geopolitics remain a nuanced variable.
The Federal Reserve held interest rates unchanged for the fifth consecutive meeting. Inflation remains stubbornly high, suggesting that prior rate hikes have not yet had their full intended effect.
The 30-year Treasury yield reached 5.24% today, as the bond selloff continued after the Federal Reserve held rates steady. Some continue to believe the Fed has inflation under control.
The PCE inflation index declined for the first time since the pandemic, a development that may influence the Fed's future rate decisions. Core inflation, however, remains a persistent consideration.
The Federal Reserve maintained the federal funds rate at 3.5%-3.75%, with no new guidance from Chair Warsh on future policy. Bitcoin and Ethereum saw some volatility following the announcement. Keeping things interesting.