Ryan Adams

So like Trump, after this attack from Israel on Iran and then the responding Iranian attack on Qatar, he released out this kind of loud truth social post saying,

kind of doing three things simultaneously.

He basically distanced the United States association with the Israeli attack on the Iranian oil fields.

But then he also said, Iran, you don't get to respond by attacking Qatar.

You don't get to do that.

If you do that anymore, we are going to come down with a full might of the US military, which I think is the rod will take very credibly since we are literally doing that.

And so basically he's kind of saying is just like, you guys get to be attacked, right?

by Israel, but you don't get to hit anyone else back.

And that is not anything I would characterize as a conflict coming to its conclusion.

Yes.

It still feels very middle gamey, not end gamey for this whole thing.

Donald Trump, when he announced this conflict, he predicted we will be in this for at least some weeks, if not a month.

We are 19 days in, so we still have some time on that month long earlier.

It's not winding up, not this weekend yet.

Yeah, it does not seem like we are winding this up anytime soon.

Okay, so how have crypto markets reacted to this?

Bitcoin down 1%, 1.4% on the week.

ETH up 3.2% on the week.

So interesting small amount of divergence between Bitcoin and Ether.

But even though that Bitcoin is down 1.4% on the week, it is still outperforming equities and mainly gold.