Ceasefire under stress
Crypto and US equities weakened as US-Iran tensions escalated, with the S&P 500 down 0.26% after a 2.3% intraday drop and the Nasdaq-100 down 1.12%. BTC traded between $60K and $64K as spot ETF outflows continued and derivatives markets stayed bearish
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In Today's Note
Crypto and US equities weakened as US-Iran tensions escalated, with the S&P 500 down 0.26% after a 2.3% intraday drop and the Nasdaq-100 down 1.12%.
BTC traded between $60K and $64K as spot ETF outflows continued and derivatives markets stayed bearish, while Aave weighed a new risk framework and Botanix said it will shut down by July 9, 2026.
Market Snapshot: Overnight Moves
Macro & Markets
Both crypto and US equities showed weakness over the past 24 hours as geopolitical tensions between the US and Iran escalated.
The S&P 500 closed the session down 0.26%, though that masked greater losses earlier in the day when the index fell as much as 2.3% intraday.
While most companies in the index actually rose (nine out of eleven S&P 500 sectors traded higher), tech-stocks — which make up the largest portion of the index — sold off once again.
Similarly, the technology-heavy Nasdaq 100 lost 1.12% after being down more than 4% earlier in the session. The Philadelphia Semiconductor Index, which contains chip bellwethers such as Nvidia Corp., ended down 1.9% following a 5.6% rally on Monday.