Bitcoin rose to $65,000 Monday morning, recovering part of Friday’s drop below $63,000 but finishing roughly flat on the week. Other crypto majors held steady alongside it: ETH +1% to $1,750, Solana +1% to $73, and Hyperliquid’s HYPE flat at $68.
Fairly uneventful price action, but maybe that’s a win in a week that saw Strategy's STRC fall to record lows of $83, the ETFs saw $227M in net outflows, and the Fear and Greed Index spending the entire week squarely in the Fear zone.
Macro Drivers
The Iran War ceasefire saw a setback. Permanent U.S.-Iran ceasefire talks opened in Switzerland after the deal was signed Friday, a deal that sent oil down 9%. Then Iran ordered the Strait of Hormuz closed again over the weekend, reviving the exact supply risk the agreement was meant to remove. Add the hawkish Warsh Fed and the STRC selloff from last week, and Bitcoin/crypto is certainly in a precarious position to start the week.
For now, Bitcoin is consolidating rather than trending, holding above the low $60,000s but unable to reclaim the week’s highs. Until the Iran picture and the Fed path clear up, the range likely holds.
CME Sues the CFTC
CME Group filed a lawsuit against the CFTC on Thursday, asking a court to vacate the agency’s approval of Kalshi’s perpetual futures. CME argues that perpetual futures are actually swaps under Dodd-Frank rather than futures, a distinction that would subject them to different and stricter rules. The case matters because if CME wins, the approvals for regulated US perps could be reopened, making it one of the bigger market-structure fights of the year.
Other Key Headlines
- Franklin Templeton filed for ETFs that reinvest US stock dividends into Bitcoin, a novel structure funneling dividend income into Bitcoin accumulation.
- Charles Schwab plans to introduce prediction markets with Cboe for wagering on the S&P 500's performance.
- The Federal Reserve proposed customer identification rules for stablecoin issuers.
- Jaredfromsubway.eth, Ethereum's most notorious MEV sandwich bot, was drained of more than $7.5 million in an ironic exploit.
Market Overview
- Crypto majors mixed: BTC +1% at $65k; ETH +2% at $1,750; SOL -1% at $73.50; HYPE even at $68.25.
- DEXE (+26%), ENA (+5%), and OKB (+6%) led top movers.
- Oil +1% at $77; Gold -0.5% at $4,225.
- Stock futures flat.
ETF & Treasury Flows
- Bitcoin ETFs saw $6.35B in net outflows over the past 30 days, including $227M last week; ETH ETFs saw $10M in outflows.
- HYPE ETFs saw no net inflows on Thursday.
Meme Coin Tracker
- Meme leaders mostly green: DOGE +1%, SHIB +1%, PEPE +1%, PENGU -1%, TRUMP +1%, BONK +1%, SPX +3%, FARTCOIN +5%.
- Solangeles (+180%), three (+30%), and GTAVI (+65%) led movers on Solana.
Token, Airdrop & Protocol Tracker
- Pump Fun’s new bounty feature covered by NY Post for leading to people humiliating themselves for money.
- Charles Schwab plans prediction markets with Cboe.
NFTs
- NFT leaders mostly red: Punks -7.5% at 31 ETH, BAYC -3% at 9.2 ETH, Pudgy +6% at 4.8 ETH; Hypurr’s -2% at 227 HYPE.
- Trolls (+12%) and Axie (+8%) led top movers.
Comments
Join Our Community
Sign up to share your thoughts, engage with others, and become part of our growing community.
No comments yet
Be the first to share your thoughts and start the conversation!