BTC has spent five weeks whipsawing on Trump's shifting Iran rhetoric, but the fundamentals that matter are in the oil market. Ship insurance for Hormuz transits has surged from under 1% to 7.5% of vessel value, and only 21 tankers have passed through since the war began — down from 100+ daily. Until those numbers normalize, rallies on political headlines are unlikely to stick.
The conditional approval moves Coinbase closer to operating as a federally regulated crypto custodian. A finalized charter would let it run a non-insured national trust company focused on digital asset custody — supporting its push for steadier institutional revenue beyond trading fees.
The crypto asset manager said investors are sidelined by Middle East tensions, but resilient valuations and structural adoption trends could set up the next leg higher once the conflict stabilizes.
