I just checked how the market has been these days and there’s quite a bit of interesting activity happening. Geopolitical tensions remain the key factor driving everything — with the ceasefire between the U.S. and Iran nearing its end, the Strait of Hormuz briefly opened but then closed again, causing the volatility we’re seeing.

Bitcoin has been quite erratic. It reached over $78,000 when the strait reopened but dropped when tensions rose again. It’s now hovering around approximately $77,440, with a 1.11% decrease in 24 hours. Ethereum is also under pressure, near $2,320 and down 0.60%. The interesting thing is that Bitcoin’s dominance remains quite high at 59.8%, while altcoins follow the overall movement without establishing their own trends.

Regarding specific tokens, there are some things worth paying attention to. BLUR had a significant jump recently but is now practically flat. What’s really gaining traction is the meme sector — BOME is showing momentum with a +2.35% in 24 hours, while others like NEIRO and PNUT are losing ground. The Chinese meme ecosystem remains dynamic, although NEIRO is down 4.83%.

Now, what happened with RAVE is quite concerning. The token collapsed 96% after multiple exchanges and on-chain researchers reported price manipulation. It’s currently down 20.83% in the last 24 hours, so people are still liquidating positions. In contrast, AAVE recovered a bit (+0.20%) after the KelpDAO drama that caused $6.6 billion in ETH withdrawals.

A curious fact: Elon Musk approved “Asteroid” as SpaceX’s mascot, which boosted the meme token related to a market cap of $126.41 million. It’s the kind of catalyst that moves these speculative assets.

There are several important events this week. Today, we have the Senate hearing on Tennessee’s Strategic Bitcoin Reserve, and the Hong Kong Web3 Carnival begins. On Wednesday, the ceasefire between the U.S. and Iran expires, so expect more volatility. There are also unlockings of ZRO and KAITO that could pressure prices.

What I find interesting is how markets remain completely reactive to headlines. There’s no independent narrative in crypto right now — everything revolves around what’s happening with Iran, what politicians are saying, what the Fed is doing. Meanwhile, oil dropped 8.18%, but the crypto fear and greed index slightly increased to 29, indicating people are still scared.