Bitcoin is currently trading near $75,000, supported by steady institutional demand despite facing a wall of supply. The options market shows a bias towards downside hedges, reflecting a cautious sentiment among traders. Recent derivatives data indicate a 2.5% rise in crypto futures open interest, although trading volume has decreased by 16%. This suggests that traders are quietly adding exposure while remaining wary of market volatility. Additionally, geopolitical tensions, particularly the U.S. blockade of Iranian ports, are clouding the global economic outlook and could impact inflation expectations. In a separate incident, the decentralized exchange aggregator CoW Swap experienced a DNS hijacking, resulting in losses exceeding $1 million for users. Meanwhile, Morgan Stanley's new spot bitcoin ETF, MSBT, has quickly garnered over $100 million in its first week, making it the firm's most successful ETF launch.