#EthereumFoundationUnstakes$48.9METH 1. Geopolitical Deadlock: The Pakistan Cancellation
The negotiations hit a significant snag over the weekend. President Trump canceled the visit of envoys Steve Witkoff and Jared Kushner to Pakistan, which was intended to be the site of a critical round of mediated talks.
The "All the Cards" Stance: Trump signaled that the US is in no rush, stating, "We have all the cards. They can call us anytime they want."
The Pakistani Mediation: While Iranian Foreign Minister Abbas Araghchi was in Islamabad to meet with Pakistani officials, the lack of direct US-Iran engagement has left the "indefinite ceasefire" in a fragile state.
2. The Strait of Hormuz & Oil Realities
Your estimate of $120–$130/bbl is increasingly supported by current market data.
Supply Deficit: Analysts estimate the total oil supply deficit due to the Hormuz blockade will hit nearly 700 million barrels by the end of this month.
Global Impact: While Saudi Arabia and the UAE are utilizing overland pipelines to bypass the Strait, these routes only cover a fraction of the usual 20 million barrels per day. The resulting "demand destruction" is already forcing airline cancellations and mandatory remote work in some regions.
3. Bitcoin: The "Digital Gold" vs. "Risk Asset" Debate
Bitcoin’s recent climb to the $79,000–$80,000 range highlights a fascinating evolution.
The Recovery: After bottoming near $65,000 during the peak panic of early March, BTC has rallied roughly 20%.
Correlation Shift: You’re spot on about the correlation with equities. The 6-month correlation between BTC and the Nasdaq reached as high as 0.92 recently. This suggests that while BTC can decouple, it is currently heavily influenced by global liquidity and "risk-on" sentiment following the initial April 8 ceasefire announcement.
The negotiations hit a significant snag over the weekend. President Trump canceled the visit of envoys Steve Witkoff and Jared Kushner to Pakistan, which was intended to be the site of a critical round of mediated talks.
The "All the Cards" Stance: Trump signaled that the US is in no rush, stating, "We have all the cards. They can call us anytime they want."
The Pakistani Mediation: While Iranian Foreign Minister Abbas Araghchi was in Islamabad to meet with Pakistani officials, the lack of direct US-Iran engagement has left the "indefinite ceasefire" in a fragile state.
2. The Strait of Hormuz & Oil Realities
Your estimate of $120–$130/bbl is increasingly supported by current market data.
Supply Deficit: Analysts estimate the total oil supply deficit due to the Hormuz blockade will hit nearly 700 million barrels by the end of this month.
Global Impact: While Saudi Arabia and the UAE are utilizing overland pipelines to bypass the Strait, these routes only cover a fraction of the usual 20 million barrels per day. The resulting "demand destruction" is already forcing airline cancellations and mandatory remote work in some regions.
3. Bitcoin: The "Digital Gold" vs. "Risk Asset" Debate
Bitcoin’s recent climb to the $79,000–$80,000 range highlights a fascinating evolution.
The Recovery: After bottoming near $65,000 during the peak panic of early March, BTC has rallied roughly 20%.
Correlation Shift: You’re spot on about the correlation with equities. The 6-month correlation between BTC and the Nasdaq reached as high as 0.92 recently. This suggests that while BTC can decouple, it is currently heavily influenced by global liquidity and "risk-on" sentiment following the initial April 8 ceasefire announcement.
