Overnight, the macro landscape flipped. Oil crashed, risk assets surged, and crypto caught the bid. The trigger: a U.S.-Iran memorandum to end hostilities, reopen the Strait of Hormuz, and unlock billions in frozen assets. That single shift crushed crude and removed a major geopolitical lid on risk appetite. For crypto, this is a liquidity story. The same war premium that dragged $BTC to 75k is unwinding fast. With one inflation headwind fading, the Fed path looks cleaner. That’s a direct tailwind for BTC and the broader market. $ETH saw the sharpest snapback from its 2050 lows — heavy oversold, high beta. If risk-on mode holds, ETH leads the alt recovery. $CL crude broke below 100. More downside expected as supply normalizes. That’s disinflationary, which markets love. What changed? Not just a headline — a structural de-escalation that shifts rate expectations, dollar flows, and capital rotation. The question now is sustainability. Watch the nuclear talks. A breakdown or U.S. policy reversal could reintroduce volatility fast. The storm passed, but the boat is still rocking. Personal analysis only. NFA. DYOR. $BTC $ETH $CL