Geopolitical tensions dominate with ongoing US strikes on Iranian missile sites despite concurrent peace talks, creating volatile risk sentiment. VIX remains calm at 16.6 while SPX shows modest gains (+0.37%), suggesting traditional markets are compartmentalizing the Iran situation. Key risk today is escalation in Middle East tensions that could trigger broader risk-off flows.
Bitcoin trading around $77k with conflicting narratives - Iran deal hopes providing support while $77M ETF outflows signal institutional profit-taking. Market structure shows institutional exit warning from Swissblock with Bitcoin in "high-risk zone." Stablecoin supply declining across USDT (-0.12% 7d) and USDC (-0.77% 7d), while DEX volumes 6.4% below average indicate reduced retail engagement.