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Bitcoin faces heavy selling resistance above $70K
โBitcoin keeps running into a wall of selling above $70K โ roughly $20M/hour in profit-taking โ and now that wall has geopolitical weight behind it after the Islamabad peace talks collapsed, Iran's Strait of Hormuz stays effectively closed, and Trump ordered a naval blockade of Iranian ports starting this morning. That's pushing oil toward $100/barrel and forcing tanker traffic into a full reroute away from the Gulf.โ
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Iranian blockade pushes oil toward $100 per barrel
โIf those December contracts move over 100, the world is a very different place than it is right now. And that will cause revaluation of various assets. And that will cause, certainly in our administration, doing everything they can to print money. The truth is with AI and with everything going on in the economy and with oil prices going up, it actually cuts economic growth. It cuts the aggregate demand.โ
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Political gridlock stalls critical Federal Reserve appointments
โOur political system in the United States is broken. I mean, it's not just that people think Congress are a bunch of parasitic jackals, which is true, by the way... But it's actually worse than that. It's just completely dysfunctional. That is a large part of this. I mean, if we knew we were going to have a new Federal Reserve Chair in May, which you would think would be known, I think markets would be very different.โ
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Dollar global reserves reach record 26-year lows
โThe dollar's long-term slide continues โ now just 46% of global FX and gold reserves, a 26-year low โ even as M2 keeps expanding at 4.8% YoY, and central bank gold holdings have officially eclipsed US Treasury holdings for the first time since '96. That's pushing oil toward $100/barrel and forcing tanker traffic into a full reroute away from the Gulf, which benefits US energy exports but hammers Japan, South Korea, and India hardest.โ
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Justin Sun legal battle threatens institutional credibility
โThe WLFI vs. Justin Sun feud is turning into a full legal brawl over a $75M loan dispute, backdoor token blacklisting, and accusations flying both ways โ exactly the kind of circus that undermines crypto's push for institutional credibility. This adds to the geopolitical weight already slowing markets after the Islamabad peace talks collapsed, and Iran's Strait of Hormuz stays effectively closed following the new naval blockade.โ
