📌 MARKET BRIEF | SATURDAY, 05/30

🌍 Macroeconomics & Market

• Brent oil price drops to $91 per barrel.
• S&P 500 records its 9th consecutive week of gains, the longest streak since late 2023.
• Bitcoin continues trading around $73,000, with no clear breakout momentum.

🇺🇸🇮🇷 US - Iran Negotiations

President Trump is said to have convened an emergency meeting to finalize a new agreement framework with Iran. However, Iran states that the two sides have not yet reached a final consensus.

📊 Spot ETF Flows (05/29)

• Bitcoin ETF: -$57.1 million (excluding data from BlackRock).
• Ethereum ETF: +$13.4 million (excluding data from BlackRock).
• Solana ETF: +$1.3 million.
• XRP ETF: +$11.9 million.
• HYPE ETF: +$9.5 million.

🏛️ Policies & Legal Framework

• The US continues to push the crypto tax bill PARITY Act alongside the CLARITY Act to improve the legal framework for digital assets.
• CFTC has approved Kalshi’s Bitcoin Perpetual contract for the first time, marking a significant step forward for the crypto derivatives market in the US after years of legal hurdles.

₿ Bitcoin Adoption

• Texas appoints two Bitcoin mining industry leaders as advisors for the state’s strategic Bitcoin reserve.
• BlackRock is accelerating plans to launch the BTC Premium ETF, a product that uses a options-selling strategy to generate periodic cash flows for investors, with profits capped when Bitcoin surges.

💰 Crypto & Financial Security

• US Treasury Secretary Scott Bessent reveals that the US has seized nearly $1 billion in crypto assets related to Iran, doubling in just one month.

⚠️ Ecosystem

• The Sui network experienced another outage lasting about 45 minutes, marking another disruption in a series of technical issues that have occurred throughout the month.
#WTICrudeFallsBelow90Dollars #btc