Bitcoin held near $65,000 Monday morning after recovering from a Friday dip below $63,000, as political risks from Iran persisted. A ceasefire deal signed Friday wobbled after Iran ordered the Strait of Hormuz closed over the weekend, reviving supply concerns that had sent oil down 9% initially. The week saw Strategy’s STRC fall to an all-time low of $83, $227M in Bitcoin ETF net outflows, and the Fear & Greed Index remaining in Fear territory. Meanwhile, CME Group sued the CFTC arguing that perpetual futures are swaps not futures under Dodd-Frank, challenging the agency’s approval of Kalshi’s perps. CME argues procedural violations and substantive misclassification, threatening the regulatory basis for regulated crypto perps and prediction markets in the US. A separate Michigan ruling on sports prediction markets adds to the legal complexity. Other news: Franklin Templeton filed for ETFs that reinvest US stock dividends into Bitcoin, the Fed proposed stablecoin customer identification rules, and the MEV bot Jaredfromsubway.eth was drained of $7.5M via spoofed trading routes. Charles Schwab plans prediction markets with Cboe.

Key facts

• Bitcoin holds $65k amid Iran ceasefire uncertainty; face STRC all-time low and ETF outflows
• CME sues CFTC arguing perps are swaps, not futures, challenging Kalshi's approval
• Franklin Templeton files for ETF reinvesting US stock dividends into Bitcoin
• Fed proposes customer ID rules for stablecoin issuers; MEV bot drained of $7.5M
• Charles Schwab plans prediction markets with Cboe; Michigan ruling splits court views

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