Good morning. ☀️ The market is moving not so much out of fear, but because of the narrative that the war is coming to an end. Negotiations to extend the ceasefire between the U.S. and Iran are ongoing. Trump says it could end very soon. This messaging alone has reignited risk appetite. • S&P 500 and Nasdaq closed at record highs • Futures are positive • Oil is dropping below $91 as tension pricing unwinds • Gold holds above $4,830; silver remains above $80, showing surprising strength So the classic equation seems broken: Risk assets are rising, while safe havens remain strong. This shows that markets have embraced the narrative. Bitcoin didn’t miss this opportunity. Priced above $75,000… and now targeting $80,000. This isn’t just technical— the narrative supports it too. The White House is accelerating the crypto regulatory process. The CLARITY regulation could be tabled within two weeks, with a possible vote in May. We’re also seeing pressure from those urging not to fall behind in integrating crypto into the system. Today’s data flow is also significant: • 12:00 European CPI • 15:30 U.S. Initial Jobless Claims • 15:35 Fed’s Williams to speak But it’s important to remember: Right now, markets are being driven not by data, but by geopolitical and liquidity narratives. By the way, did you notice the White House website’s crypto page has been updated? 😉