The cryptocurrency market is experiencing a downturn, with major exchanges such as Robinhood and Coinbase witnessing significant declines in their stock prices. This comes after Robinhood reported a 47% decline in crypto-related revenue, triggering a sell-off in the sector. The decline in crypto stocks is more pronounced than the decline in crypto prices, with bitcoin edging below $76,000.
The rejection of Iran's proposal by President Trump has led to a 6% surge in oil prices, with the West Texas Intermediate reaching over $100 a barrel. The Federal Reserve meeting and the earnings reports of major tech firms are expected to provide further catalysts for the market.