Trading Desk Insights
Yesterday’s price action was driven by rising geopolitical concerns, with markets digesting a barrage of headlines around escalating tensions in the Middle East. Trump warned that U.S. patience was “wearing thin” and labeled Khamenei an “easy target,” while Iran’s supreme leader responded by threatening the U.S. with “irreparable damage” should Washington proceed with military action.
Crypto underperformed relative to broader risk assets. Despite the rising geopolitical risk, BTC has yet to show signs of a panic-driven selloff. Prices continue to hold just above the critical psychological threshold of 100,000 and are currently sitting right on the 50-day moving average. A clean break below this level opens the door toward 100,000 and, if breached, the next key support comes in at 97,000. For now, prices are bouncing off the 50-day which is constructive, helped by reports that Iran has reached out to Trump for potential negotiations, easing some immediate pressure on risk sentiment.
On the policy front, the U.S. Senate passed long-awaited stablecoin legislation in a 68 to 30 vote. The GENIUS Act marks a significant step forward for the digital asset space and signals a strong bipartisan push to bring regulatory clarity to the industry. The bill now heads to the House before landing on President Trump’s desk.
All eyes now shift to the Fed. While no rate move is expected, the focus will be on Powell’s tone, inflation commentary, and the updated dot plot. With political pressure mounting and inflation softening, we expect Powell to stay the course and reiterate that policy is well-positioned and there’s no rush to make adjustments.
The News Room
Treasury Secretary Bessent says stablecoins are debt relief engine as Senate readies to vote on GENIUS Act
U.S. Treasury Secretary Scott Bessent argued that stablecoins could serve as a powerful debt relief instrument if the GENIUS Act becomes law. He highlighted research projecting a $3.7 trillion stablecoin market by 2030 and noted that new regulatory requirements, mandating reserves in short‑dated Treasury bills and insured deposits, would boost demand for government debt and ease borrowing costs
Ethereum staking and network security
Ethereum now has over $91 billion worth of ETH staked, roughly 35 million coins, which analysts say greatly strengthens the network’s security. This high level of locked value significantly raises the financial barrier for potential attackers, making successful 51 percent attacks increasingly unlikely
$75 million oil and gas deal via blockchain tokenization
Feniix Energy completed a $75 million acquisition of an operational oil and gas facility in Latin America using fully tokenized debt and equity on Global Settlement’s GSX Protocol. The deal, settled with stablecoins, enabled quicker cross‑border execution, reduced counterparty risk, and improved transparency, marking a milestone in real‑world asset tokenization
Crypto Charts
ETF Flow
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This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
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