TLDR Tech / Crypto
Crypto Steadies as Iran-US Pause Sends Oil Tumbling
An Iran-US ceasefire over the Strait of Hormuz drove Brent crude down 7% to ~$87/barrel, easing inflation concerns and boosting risk appetite across asset classes. CME FedWatch pricing for a Fed rate hike this week fell from 37.4% to 30.5% following the de-escalation, with inflation running at 4.1% ahead of the decision. Bitcoin held flat at $65,200 while Ether gained 0.51% to $1,963, approaching the $2,000 level, and the CoinDesk 20 Index added 1.6% over 24 hours. DeFi tokens led the recovery: AAVE and LDO each gained around 9%, ONDO rose 7%, and PUMP surged 12.24% toward an $800 million market cap.
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