Geopolitical risk is spiking with Iran's drone/missile attack on Kuwait airport and ongoing US-Iran strikes as ceasefire talks stall. Bitcoin's fear gauge surged 20% - its largest jump since the February 5th crash - as risk-off sentiment dominates. Key data today: ADP Employment (08:15 UTC, f: 118K) and ISM Services PMI (10:00 UTC, f: 53.7) could add to volatility.
Broad bearish structure across majors with Bitcoin sliding from $71K to $65K following Strategy's first sale since 2022. Despite the selloff, BTC ETF flows remain constructive with $1.27B net inflows yesterday led by IBIT ($988M), suggesting institutional accumulation continues. DEX volumes elevated at $9.28B (+37.6% vs 7d avg) indicating active trading around the decline.