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- đł Weekly Edition: War Clock Ticks Toward April 6th as ETF Flows Slow
đł Weekly Edition: War Clock Ticks Toward April 6th as ETF Flows Slow
The new deadline for a peace deal is approaching rapidly, another miss could take risk assets lower
Beluga & Will McKinnon
April 03, 2026
Trumpâs rhetoric in his Wednesday night address to the nation dashed any hopes for immediate resolution of the war in Iran, as he projected another 2-3 weeks of strikes which would bring Iran âback to the Stone Ages.â The 15 point US peace plan has been rejected, with Trump claiming a negotiation window is now open while Iran says there are no formal negotiations. Weâre now 5 weeks into the conflict and the gap between the two sides is as wide as ever.
ETF flows are still pretty spotty despite a couple big days as BTC ETFs closed Q1 with $500M in net redemptions, the second worst quarter since launch. With ETF flows slowing down, only two buyers in the DAT world left standing (Michael Saylor and Tom Lee), and a war going on, the outlook feels bleak. The crypto Fear and Greed index is now on its 46th consecutive day in âExtreme Fearâ territory which I think sums market sentiment up pretty well.
Looking ahead, April 6th was Trumpâs new deadline for Iran to reopen the Strait of Hormuz before the US and presumably its allies resume strikes on Iranian energy infrastructure. If this deadline passes once again, we should probably expect to see Oil continue its climb and risk assets sell off⌠though I think thatâs being priced in at this point.
The Drift Protocol hack was yet another shining example of Circleâs ineptitude when it comes to preventing the transfer of illicit funds. Itâs no wonder hackers feel free to swap into USDC after committing crimes!
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