Mortgage rates hit a one-year high, surging since the war with Iran began.

This isn't about oil; it's about rates. February's low was fleeting. Higher rates mean less capital for everything, especially speculative assets.

Our read: the market prices in sustained macro headwinds. In a fear market (Fear & Greed at 34), capital flees risk for safety.

Would you keep funds on a mid-tier exchange right now? $BTC