Bitcoin at $59,850 amid ongoing exchange inflows and stable macro conditions.

The Lead

Bitcoin sits at $59,850 after fresh distribution into exchanges, with MVRV near 1.12 leaving holders little cushion above their cost basis. Miners have already absorbed a 10 percent difficulty cut and show no rebound in commitment, while the network's fee market stays flat. The ignored tension is that geopolitical friction in the Strait of Hormuz has not yet lifted energy prices or forced capital into alternatives, even as the dollar stays firm and yields offer no relief. This leaves Bitcoin exposed to any acceleration in exchange inflows or miner exits without a macro catalyst to absorb the supply.

The full briefing

The full briefing is free with an account

Four more sections every morning: market conditions, network health, geopolitical watch and the macro pulse.

Registration takes an email or a Nostr key, and either way 7 days of VIP come with it.

Create a free account Sign in

The Wire

BITCOIN
Live markets: Bitcoin rebounds to nearly $60,000. Kospi, Nikkei sink — CoinDesk

BITCOIN
Bitcoin bounces off new 2026 price lows: Will US stock weakness push BTC lower? — Cointelegraph

ECONOMY
Chicago Fed President Goolsbee says inflation is too high; Williams sees price pressures easing — CNBC

CONFLICT
UN agency pauses evacuation of ships through the Strait of Hormuz after attack on vessel — NPR World

CONFLICT
UN agency pauses ship evacuations through strait of Hormuz after vessel struck — Guardian Biz

POLITICAL
China Eyes Iran's Postwar Reconstruction In Bid To Lock Up Future Oil Supplies — ZeroHedge

Sources (36)

The Situation Room is paid for by its members, in sats: no ads, no data sales, no investors. Membership →