The two largest memecoins, $DOGE and $SHIB together represent just 1.02% of bitcoin’s market cap — down from 7% at the 2021 peak. That collapse tells the structural story of the week: institutional capital flowing into crypto has no interest in internet joke tokens, and higher real yields mean the era of easy speculative money is over. Meanwhile the options market is telling a different story: nearly $5 billion has accumulated at the $70,000 and $72,000 call strikes on Deribit — 18% of total open interest — with calls outnumbering puts by 10-to-1 or more at both levels. And the EU just deployed its most sweeping crypto sanctions yet against Russia, targeting the $120 billion A7 network and introducing a new instrument that could allow a blanket ban on any EU crypto transaction with Russia. Have a good weekend.$BTC
Iranian Foreign Minister Abbas Araghchi met with a Pakistani envoy in Tehran as diplomatic efforts continue to advance potential peace talks with the United States