The cryptocurrency market has demonstrated resilience amid ongoing geopolitical tensions between the U.S. and Iran, largely supported by strong institutional inflows into Bitcoin ETFs. In regulatory developments, U.S. President Donald Trump criticized banks for hindering his crypto agenda by delaying the CLARITY Act. Additionally, the CFTC announced plans to approve perpetual futures contracts within the next month.
Bitcoin has maintained a price range between $65,000 and $70,000 despite escalating tensions with Iran. According to Bloomberg ETF analyst Eric Balchunas, U.S. spot BTC ETFs have been a key stabilizing force with significant inflows.
Balchunas noted the products saw $1.5 billion in inflows over five days. “Biggest haul in a while, just about all of the original ten spot ETFs seeing action too = breadth and depth,” he stated.
On the regulatory front, CFTC chair Mike Selig said the regulator will approve perpetual derivatives as part of Project Crypto. “We’re working towards getting perpetual futures… here in the U.S. within the next month or so…” he announced.
Hyperliquid Policy Center CEO Jake Chervinsky hailed the move as progress toward regulated DeFi perps. He speculated this initial approval would likely be for centralized exchanges only.
President Donald Trump has also weighed in, slamming banks for undermining his crypto agenda. He warned them not to hold the CLARITY Act hostage or undercut the stablecoin law, the GENIUS Act.
Trump urged the banking industry to make a good deal with the crypto industry for the American people. Ripple CEO Brad Garlinghouse supported this stance, echoing that crypto advocates seek what’s best for the public.
