The dominant macro theme is rising Fed rate hike expectations, with US10Y yields elevated at 4.78% and the DXY firming (+0.16% to 99.16), creating headwinds for risk assets. Geopolitical stress from U.S.-Iran military conflict is adding a risk-off overlay, weighing on BTC despite its three-week win streak; Gold's sharp decline (-1.38%) suggests safe-haven flows are not rotating into traditional hedges, potentially reflecting USD strength and forced selling dynamics. VIX remains calm at 14.5 and SPX is modestly negative (-0.38%), indicating contained but watchful equity risk sentiment. No major economic data releases are scheduled today.