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US equities whipsawed while BTC held around $76K–$77K, as risk sentiment was pressured by US-Iran escalation before partially recovering after Trump delayed a planned strike.
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In Today’s Note
BTC stayed under pressure, trading between $76K and $77K as spot Bitcoin ETFs saw another major day of outflows.
Markets whipsawed on US–Iran headlines, with risk sentiment improving after Trump said he had delayed a planned strike to allow more time for diplomacy.
Options markets remain unusually calm despite downside hedging, with BTC and ETH implied volatility near year-to-date lows while put-call skew still favours puts.
Market Snapshot: Overnight Moves
Macro & Markets
US equities whipsawed in yesterday’s trading session while BTC traded between $76K and $77K.
The S&P 500 finished at 0.074% paring back most of its intraday losses, after President Trump said that he had called off a strike on Iran planned for Tuesday as leaders in the Persian Gulf called for more time to reach a diplomatic resolution.
Spot Bitcoin ETFs saw outflows of $648.6M yesterday, their largest since Jan 29, 2026 when single-day outflows amounted to $817.8M — since Monday last week, the funds have collectively sold more than $1.6B worth of bitcoin.