Good morning.

Market situation:

- Bitcoin around $70,726;
- Ethereum approximately $2,159;
- Fear and Greed Index: 15;
- Altseason Index: 55;
- Bitcoin dominance: 58.93%;
- Market capitalization: $2.38 trillion.

🔽 BTC ETH -$66.6 million [currently no data on BTCW, usually minimal movements of a few million].
🔽 ETH ETF - $$40.7 million.

⚫Whale activity in BTC has dropped to historic lows: only 6,417 daily transactions over $100k minimum since September 2023( and 1,485 over )million$1 minimum since October 2024(. Smart money is frozen, waiting for the CLARITY Act and the resolution of the war, alongside retail investors.

⚫500 BTC )$35.4 million( from the "irretrievably lost" 6,000 BTC of Irish drug dealer Collins suddenly reactivated after 10 years and moved to Coinbase, another 5,500 BTC )~(million$389 remain on wallets. Previously, it was said that the keys were lost.

⚫Arthur Hayes: "The markets are completely high on hope right now. Of course, I want the killings to stop, but I’m not risking buying here."

⚫On Tuesday, Bitmine bought an additional 67k ETH for )million, bringing their reserves to 4.66 million ETH $145 ~(billion, 3.86% of supply$10 . ETH down 55% from ATH, BMNR down 60% over six months.

⚫Bhutan transferred 519.7 BTC )$36.75 million( to two new addresses, one of which is linked to QCP Capital and was previously used for OTC sales.

⚫Lido’s revenue fell 23% to $40.5 million in 2025, expenses $45.5 million, treasury $157.5 million )-(million$14 . DAO is considering a buyback of LDO in Q2 2026 using staking income with a pool of LDO/wstETH.

⚫The average unemployment duration in the US increased to 25.7 weeks )the highest in 4 years(, median up to 11.1 weeks, both metrics steadily rising at a pace typical of the start of recessions.

⚫The Philippines was the first in the world to declare a state of energy emergency due to the war with Iran: the country imports 98% of its oil from the Persian Gulf, fuel prices have more than doubled since February 28, and drivers are compensated with 5,000 pesos )$83(.

⚫ETF trading volumes reached a record 37% of the entire US stock market )up 13 percentage points since early 2025(, surpassing the peaks of the 2020 pandemic and 2018 crisis. Institutions are increasingly using ETFs for hedging and reducing positions instead of selling individual stocks, increasing volatility.

⚫The US has developed a 15-point resolution plan; Iran is reportedly agreeing to key conditions including abandoning enriched uranium and zero enrichment, Netanyahu fears a too-soft deal. Simultaneously, a month-long ceasefire for negotiations is being discussed, but Iran officially denies the negotiations themselves, as the threat of escalation remains its main leverage over markets.

⚫Insiders of Nasdaq 100 companies are increasing purchases as the index declines.
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