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🌍⚠️ War Hits the Wires, Bitcoin Dips Below $104K

Hello there you embodiment of curiosity;

Welcome to today’s edition of Osiris News. So, about $1.16 billion in crypto longs evaporated overnight as missiles lit the Tehran sky and funding screens flashed crimson. The move felt less like a panic and more like a collective exhale, the market’s way of bracing for whatever comes after the first siren.

Back in 2023 a weekend dip meant shrugging at an exchange outage; this morning a London prop-desk lead tapped his keyboard, saw BTC slip beneath $104 000, and whispered that the “digital gold” heartbeat had skipped. The week’s thread is clear: war jitters press risk assets lower even while corporate suits roll out shiny new crypto cards.

Friday's market, often a day for desks to lighten before the Sunday swaps, instead stirred with a restless energy, processing the news of conflict and its ripple effects. This dramatic shift in sentiment, alongside a complex tapestry of macroeconomic signals and regulatory maneuvers, paints a picture of a market that is anything but static, constantly adjusting its sails to the prevailing winds. This steady, almost inexorable shift is the true story, one that echoes in every boardroom and trading desk from Frankfurt to New York. Let's look at the landscape and see what's truly moving the needle right now.

🔍 Quick Overview

• Geopolitical Jitters: Escalating conflict in the Middle East sent crypto prices south, reminding everyone that digital assets don't always dodge real-world bullets.

• Coinbase's Big Play: Coinbase unveiled a slew of new ventures, from an Amex card with Bitcoin rewards to U.S. perp futures, proving they're not just building, they're building big.

• Stablecoin Surge: The stablecoin market swelled to $237 billion with big names like Walmart sniffing around, while the U.S. Senate preps a vote on their new rulebook.

• Institutional Inflow: Bitcoin ETFs are gobbling up assets at a staggering pace, with BlackRock still calling this crypto's "extremely early innings," suggesting the big money is just getting started.

• Leverage Wiped: The market’s sudden downturn triggered over $1.16 billion in liquidations, mostly from leveraged long positions, a harsh reminder that volatility bites.

Trending News

🏛️🚀 Walmart, Amazon Eye Stablecoins Amid US Policy Push

Walmart and Amazon are exploring issuing their own US dollar-backed stablecoins to reduce transaction costs and speed up payment settlements. This move aligns with a growing trend of large companies considering stablecoin issuance and a push for clear US stablecoin legislation. If launched, these stablecoins could significantly impact money flow for millions, leading to faster refunds and lower transaction fees.

🌐📉 $1.1 B Crypto Liquidations Follow Israel Airstrike News

The crypto market experienced a sharp downturn, triggering approximately $1.1 billion in leveraged liquidations, predominantly affecting long positions. This occurred after reports of Israel's preemptive airstrike on Iran, causing a "flight-to-safety" response across global assets. Bitcoin and other cryptocurrencies acted as risk assets, highlighting their sensitivity to geopolitical events and leading to significant market volatility.

🏛️🔍 Senate to Vote on Key Stablecoin Regulation Bill June 17

The U.S. Senate is set to vote on the GENIUS Act on June 17, a bill aiming to establish a regulatory framework for stablecoins. This legislation proposes full asset backing and annual audits for large issuers, with President Trump's endorsement potentially accelerating its passage. The outcome of this vote will significantly shape the future of stablecoin regulation in the U.S., potentially paving the way for a projected $2 trillion market.

🏛️🚀 Trump Pledges End to "War on Crypto" at Coinbase Summit

Former President Trump addressed the Coinbase State of Crypto Summit, promising to end the current administration's "war on crypto" and establish clear regulatory frameworks. He expressed support for dollar-backed stablecoins and mentioned the possibility of a national Bitcoin reserve. This signals a significant shift in political rhetoric, positioning crypto as a key issue in upcoming elections and potentially influencing future U.S. digital asset policy.

Beyond the Noise

The strike-triggered slide pulled Bitcoin, ETH, and SOL into a brief squall while gold futures climbed toward record highs (Source: Middle East Geopolitical Tensions & Crypto Market Impact). Oil tankers already hiss with extra security and, on-chain, block explorers recorded a rumble of forced unwinds. A Tel Aviv market-maker, eyes red from the shelter’s neon lights, still punched bids, liquidity thinned but never quit.

Because of that jolt, derivatives desks smelled fear. Put–call ratios on BTC and ETH spiked above 1.2, open interest shrank, and negative funding gnawed at altcoin longs. The hum of liquidation engines echoed through Binance chat rooms while safe-haven buyers nudged Swiss-franc swaps higher.

Building on the tension, stablecoins quietly pulsed. Circle’s USDC expanded to the XRP Ledger, and whispers grew that Walmart, Amazon, even Expedia want branded dollars. Shopify, teaming with Coinbase and Stripe, will soon pay merchants in on-chain cash and rebate 0.5 % per sale, small change that shimmers at scale. Meanwhile Coinbase One unveiled a 4 % bitcoin-back card with American Express, letting everyday spenders stack satoshis while the lobby coffee still steams.

Regulators did not sleep. The GENIUS Act heads to a Senate vote on Tuesday, Brazil skims 17.5 % of local crypto gains, and the FCA reopened retail doors to crypto ETNs. Acting CFTC chief Caroline Pham warned that “change is no easy road,” yet conceded the road now exists. Policy crackles, traders adjust, builders keep soldering.

On the builder side, Morpho V2 promises intent-driven fixed-rate loans, LayerZero pushed $LA across seven chains, and Gyroscope spun up elastic concentrated pools that breathe with price. A Berlin developer joked his rig “smells like toasted capacitors,” but the code shipped, another quiet brick in the DeFi seawall.

Contrarian voices noted the surge in institutional appetite. BlackRock’s IBIT raced to $70 billion AUM, Japanese hotel chain Metaplanet prepared a multibillion-yen raise for more BTC, and DeFi Development Corp drew a $5 billion credit line to scoop SOL. While retail sells into fear, treasury desks click “buy” and sip cold brew.

Synthesis arrives in the clash of narratives: war sells coins lower, yet credit-card rewards, tokenized treasuries, and corporate stablecoins keep marching. Markets pulse, builders hum, regulators hover. Weekend watch: early-Sunday options expiry could test the fragile floor near ninety-nine-thousand, eyes on the Asia open.

This Caught My Eye:

Here’s a breakdown of the chart:

• The SEC is signaling growing openness toward altcoin ETFs, with mainstream assets like Litecoin, Solana, and XRP all having strong odds (≥85%) of approval in 2025, thanks in part to their classification as commodities and alignment with CFTC-regulated futures. This marks a notable shift from the Bitcoin-only narrative of early 2024.

• Meanwhile, newer or less institutionally adopted assets like SUI and Tron face uphill battles due to regulatory uncertainty and lack of futures infrastructure. The clear divide in approval odds suggests that liquidity, legacy, and regulatory clarity are now the core criteria shaping ETF viability.
  

Looking Ahead

Geopolitical shellfire may fade or flare, but the deeper current is corporate crypto plumbing: cash-back cards, tokenized money-market funds, and a Senate stablecoin bill that might pass while cafeterias serve Monday breakfast. If conflict eases, risk could rebound swiftly; if escalation widens, expect more safe-haven bids and another derivatives shakeout.

Next week’s calendar carries weight. The GENIUS Act vote lands Tuesday, FOMC decision follows a day later, and Israel–Iran headlines remain the hard wildcard. Builders will still merge code, and treasury managers will still eye block-times faster than SWIFT. Markets breathe, sag, and surge, nothing permanent, everything in motion. Which quiet protocol, patched in the background while missiles traded overhead, will define the next rally’s heartbeat?

Until tomorrow,
- Dr.P