The second round of US-Iran negotiations has basically fallen apart, and Trump unilaterally extends the ceasefire to save face. • Brent crude surges to $100, rate cut expectations take a hit • S&P loses $420 billion in a single day, crypto-related stocks broadly decline • USDT supply surpasses $188 billion, hitting a historic high The biggest move is when the whales stay still—every transaction on-chain is a signal.