Rough morning
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 18th June 2025.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
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What’s up
Oil Prices Spike As War Rages On
Oil prices remained as high as they have been in five months with a war in the Middle East raging onward and President Trump weighing possible U.S. involvement. Every coin we checked on was in the red save for one, Useless Coin (USELESS), a new darling of memedom. Earlier today, USELESS set a record high of $0.10, while cracking into the Top 500. USELESS is up an insane 1,000% in the past two weeks.
What's down
Battle-Weary Majors Cede Ground
Crypto prices slid again amidst the Israel-Iran conflict. President Trump yesterday called for Iran's "unconditional surrender." Major coins gave up ground without much of a struggle. It has been a particularly rough morning for No. 15 Sui (SUI), down 5%.
Bitcoin fell 1.6% since yesterday morning. The largest crypto has shown resilience of late, basically sticking near $104K as the news out of the Middle East has gotten steadily worse since last Thursday night.
Mithil Thakore, CEO of Velar, told Cointelegraph that geopolitical conflicts raise the prospects of higher inflation rates globally due to "increased fiscal spending, looser monetary policy, supply-chain disruptions and commodity price spikes." Long term, this all benefits Bitcoin, he said.
What's next
Rate Cut? Not Happening
The Federal Reserve truly is not expected to cut rates later today. As in traders give a "hold steady" scenario a 99.9% chance of coming to pass, per the CME FedWatch. Risk-on traders should brace for the notion that the central bank actually might not cut rates at all this year.
Bank of America economist Aditya Bhave said the most likely scenario is that the Fed merely leaves open the possibility for one cut. Bhave is focused on what Powell might have to say about softening labor data, the recent inflation prints (which have been benign) and the risks of persistent tariff-driven inflation.
