Good morning everybody.
Apparently there’s peace in the Middle East.
At least that’s what the market wants us to believe.
Maybe it’s real. Maybe it’s another ceasefire headline that lasts a few days before everyone is right back where they started. At this point, I’ve seen enough “peace is on, peace is off” headlines to remain skeptical. The market, however, seems perfectly happy to price in optimism.
And speaking of optimism, can we talk about SpaceX?
Because I am experiencing a level of FOMO that should probably be medically studied.
The SpaceX Trade That Got Away
A couple of Daily Crypto News listeners managed to get allocations around $135 during the IPO. Some sold near $170. Good for them.
Meanwhile, SpaceX just keeps going.
The stock closed around $191 yesterday, traded near $198 after hours, and opened this morning around $208. That’s over a 60% move in just a couple of trading days.
And yes, I’m sitting here watching it happen.
No, I didn’t buy.
Yes, I regret it.
The meme making the rounds online sums it up perfectly: if you don’t buy the IPO, it goes straight up. If you do buy the IPO, it goes straight down. Apparently the market decided to punish everyone who stayed on the sidelines.
Adding fuel to the fire, SpaceX reportedly completed a massive deal involving Cursor AI that could further strengthen its artificial intelligence ambitions. Between reusable rockets, Starlink, AI initiatives, and institutional demand, investors continue finding reasons to pile into the stock.
Bitcoin Holds $66K, But Let’s Calm Down
Bitcoin continues holding around $66,000, and some people are already talking about a new crypto spring.
Pump the brakes.
We didn’t even have a proper crypto winter.
In my opinion, we’re not talking about a new bull market until Bitcoin gets back above $100,000, closes there, and starts treating that level as support. Until then, this is still a recovery rally inside a market that’s trying to figure itself out.
That doesn’t mean the news isn’t interesting.
BlackRock Wants Income From Bitcoin
BlackRock’s new Bitcoin Income Fund officially launches today.
The fund gives investors exposure to Bitcoin while generating cash flow through options strategies. The trade-off is straightforward: investors receive income, but if Bitcoin explodes higher, some of that upside gets capped because of the call options being sold.
This is another example of Wall Street doing what Wall Street does best: turning volatility into a product.
Gold Trading Comes On-Chain
Bybit launched options trading for Tether Gold (XAUT), allowing traders to speculate on or hedge gold prices while settling contracts in USDT.
It’s another example of traditional assets increasingly moving onto crypto rails. Gold, stocks, commodities, prediction markets, and tokenized securities all continue migrating into blockchain-based ecosystems.
Meanwhile, Hyperliquid saw more than $1.4 billion in trading activity tied to SpaceX perpetual contracts, making SPCX one of the platform’s largest markets.
All Eyes On The Fed
The Federal Reserve meets today under Chair Kevin Warsh.
Markets overwhelmingly expect no immediate rate cuts.
That said, everyone is watching for surprises.
Could the Fed shock markets? Probably not.
Could they cut more aggressively than expected? Maybe.
Do I think somebody somewhere always knows more than the rest of us? Probably.
The reality is that a surprise rate cut would immediately impact risk assets, including crypto. For now, however, the market appears comfortable pricing in no significant changes.
The Netherlands Keeps Pushing Its Tax Plan
The Netherlands continues advancing legislation that would tax actual investment returns, including unrealized gains.
The proposal would apply roughly a 36% tax rate to annual gains in stocks, bonds, and cryptocurrencies, even if investors never sell the assets.
The bill still faces additional political hurdles and revisions, but the fact that unrealized gains taxation continues appearing in policy discussions should get investors’ attention.
XRP Gives Back Some Gains
After a strong rally toward $1.29, XRP traders appear to be taking profits.
The token has slipped back toward the $1.23 range as momentum cools. That’s not unusual after a sharp move higher, but it’s another reminder that many traders are using these rallies to reduce exposure rather than aggressively add to positions.
Crypto Prices
Bitcoin (BTC): $65,994
Ethereum (ETH): $1,800
BNB: $607
XRP: $1.23
Solana (SOL): $74.17
Tron (TRX): $0.317
Hyperliquid (HYPE): $75.88
Dogecoin (DOGE): $0.087
Total Crypto Market Cap: $2.27 Trillion
Fear & Greed Index: 25 (Fear)
My Take
Today’s episode isn’t really about Bitcoin.
It’s about FOMO.
Every investor knows the feeling.
You identify the opportunity. You understand the thesis. You watch it happen. And then for whatever reason, you don’t pull the trigger.
Sometimes that’s discipline.
Sometimes that’s caution.
And sometimes it’s just painful.
SpaceX is making a lot of people look smart right now.
We’ll find out over the next few months whether they’re actually geniuses or just early.