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MARKET UPDATE 📊
Hey all,
@CryptoData2017 here 👋
The market rallied earlier after Trump posted on Truth Social that he "cancelled the scheduled strikes and bombings against Iran this evening", strikes that he'd threatened just hours earlier against Kharg Island. He then told reporters in the Oval Office "we have a deal that Iran will never have a nuclear weapon," adding "we have a signing soon, and the documents are in pretty final shape." Iran's semi-official Fars news agency reported Tehran is likely to accept the agreement, though no final text has been approved, and Trump said the signing could come as early as this weekend. The naval blockade remains in full force until the transaction is finalized, so this isn't done, but it's the closest the war has come to an actual ending since February.
BTC defended the 200-week SMA, bounced off the lows, and is reclaiming the levels we flagged Tuesday, while USDT Dominance is rejecting at that 8.78% weekly resistance exactly as the bounce thesis required. Fear & Greed is still in extreme fear, which is fine, bottoms form in fear, not euphoria. The two catalysts now: SpaceX's IPO debuts today, which is the biggest liquidity event in market history, and Wednesday's FOMC with Warsh in the chair for the first time. Even with this week's hot inflation prints, a confirmed Iran deal de-risks the single biggest macro overhang of 2026.
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Key News Events
• SpaceX debuts on the Nasdaq today in the biggest IPO in history, priced at $135 per share, raising roughly $75 billion at a near $1.8 trillion valuation.
• SpaceX shares are simultaneously being tokenized on Solana, with eligible shares convertible between brokerage accounts and onchain markets.
• Spot BTC and ETH ETFs both logged outflows again even as prices bounced, and liquidations are hitting longs and shorts simultaneously. That's the signature of a choppy rebound, not a clean reversal yet.
• The World Cup kicked off yesterday and Solana football meme coins have gone vertical, over 16,000 World Cup-themed tokens launched in two months, with May volume running roughly 650x Ethereum's in the category.
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Upcoming Events
• Jun 12th (Friday) - SpaceX IPO debut on Nasdaq
• This weekend - Potential US-Iran deal signing per Trump.
• Jun 17th - FOMC meeting, Warsh's first as Fed Chair.
For more in-depth updates and opportunities 👇
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