Key Highlights

• First-quarter comparable operating profit surged 54% to €281M, surpassing Wall Street expectations
• Revenue from AI and cloud infrastructure customers increased 49%, with €1B in fresh orders secured
• The company elevated its Network Infrastructure outlook to 12–14% growth and Optical+IP guidance to 18–20%
• Shares reached their highest point since 2010, climbing nearly 7% during Helsinki trading
• Northland lifted its target to $13; major institutional investors including Calamos, Millennium, and Goldman Sachs expanded stakes

The Finnish telecommunications equipment manufacturer reached a 16-year peak in share price following robust first-quarter results, powered by surging demand for AI and optical networking infrastructure.

Nokia Oyj, NOK

Comparable operating profit for the first quarter of 2026 reached €281 million, representing a 54% increase from the prior year and exceeding the €250 million analyst consensus. Total net sales hit €4.5 billion, reflecting 4% annual growth.

Earnings per share aligned with the $0.06 Wall Street estimate. Revenue totaling $5.27 billion significantly exceeded analyst projections of $4.59 billion.

Shares climbed nearly 7% during early trading in Helsinki on April 23, marking the highest valuation since April 2010. On the New York Stock Exchange, NOK advanced 1.4% to $10.48 on Friday, within its 52-week trading range of $4.00 to $10.90.

Revenue generated from AI and cloud infrastructure customers expanded 49% during the three-month period. The company secured €1 billion in new AI and cloud contracts, achieving a book-to-bill ratio exceeding 1.0.

Expanded AI Market Opportunity Projections

Nokia updated its addressable market forecast for AI and cloud infrastructure to reflect a 27% compound annual growth rate spanning 2025 through 2028. This represents a substantial increase from the 16% projection presented during its November 2025 investor presentation.

Guidance for the Network Infrastructure division was elevated to 12–14% growth in 2026, versus the previous 6–8% forecast. The Optical and IP segment outlook rose to 18–20%.

The Optical Networks division posted 20% revenue expansion in Q1. Integration of Infinera is proceeding faster than anticipated, and the company introduced an updated product strategy featuring a multi-rail amplifier and modular optical engines.

Chief Executive Justin Hotard noted the organization is “currently tracking somewhat above the mid-point” of its annual comparable operating profit guidance range of €2.0–2.5 billion.

A second indium-phosphide manufacturing facility in San Jose is scheduled to begin production later this year to increase optical component capacity.

Wall Street Upgrades and Institutional Investment

Northland elevated its price objective on NOK to $13 from $10, pointing to accelerating demand for AI optical connectivity solutions. Bank of America upgraded shares to “buy” with a $12.40 target in early April.

The equity currently carries a “Moderate Buy” consensus rating from 17 Wall Street analysts, comprising 10 buy recommendations, 6 hold ratings, and 1 sell rating. The mean price target stands at $8.83, although multiple recent targets have surpassed this benchmark.

Regarding institutional activity, Calamos Advisors expanded its NOK holdings by 28.1% during Q4 to approximately 1.95 million shares. Millennium Management increased its position by more than 6,500% in Q1, adding nearly 2.8 million shares. Goldman Sachs acquired just over 1 million shares in Q1, elevating its total stake to 12.55 million.

The company also increased its quarterly dividend to $0.0468, up from $0.04. The annualized distribution of $0.19 translates to approximately 1.8% yield, with a record date of April 28 and distribution scheduled for May 12.

Executives identified semiconductor supply limitations and extended order cycles as potential near-term headwinds. Fixed Networks revenue declined 13%, reflecting intentional portfolio optimization efforts.

Short interest in NOK increased roughly 24% during April to approximately 68.2 million shares, while the days-to-cover metric remains modest at 0.7.

The company’s market capitalization stood at roughly $60 billion as of Friday’s closing bell, with a price-to-earnings ratio of 65.29.

Spot XRP ETFs recorded a new all-time high in cumulative net inflows after investor demand returned in April. 

Data from SoSoValue showed total net inflows rising to $1.29 billion by the end of the latest business week. The funds added $15.74 million during the week ending April 24. April inflows reached $81.63 million, making it the strongest month for XRP ETFs since December.

XRP ETFs had a strong start after launching in mid-November. The funds quickly crossed the $1 billion mark and avoided net outflow days for nearly two months.

That trend changed in March as market uncertainty pushed some investors away from risk assets. March became the first negative month for XRP ETFs, with more than $31 million leaving the products.

The return of inflows followed easing geopolitical tension linked to the US-Iran ceasefire. The week ending April 17 recorded the highest weekly net inflow in three months.

XRP price fails to follow ETF demand

XRP has not matched the renewed demand for spot XRP ETFs. The token recently faced rejection near $1.46 after earlier failing to hold a move toward $1.60.

At the time of the report, XRP traded near $1.43. The price showed little change from the previous week, despite fresh ETF inflows and stronger market interest.

Market analyst Crypto Tony described XRP’s recent price action as “boring few months.” The token has traded between $1.20 and $1.60 for more than 60 days.

Exchange outflows raise rally hopes

XRP also saw large exchange outflows in the latest market data. Nearly 35 million XRP reportedly left exchanges within 24 hours, marking the sixth-largest outflow this year.

Some analysts view large exchange withdrawals as a possible sign of lower sell pressure. Similar spikes in February and March came before 20% to 50% XRP rallies, according to the report.

However, XRP still needs a clear breakout above its recent range to confirm stronger momentum. Analyst Ali Martinez has offered a more bullish long-term view, but said XRP could first drop toward $0.90 before any larger move.

Key Takeaways

• On April 20, BWX Technologies revealed plans to acquire Precision Components Group (PCG), a specialized US manufacturer of heavy-walled components and heat-transfer equipment.
• This acquisition brings more than 500,000 square feet of domestic heavy-manufacturing infrastructure and over 400 skilled workers into BWXT’s operations.
• PCG recorded approximately $125 million in annual revenue and will integrate into BWXT’s Commercial Operations division.
• BWXT exceeded fourth-quarter projections, delivering EPS of $1.08 compared to the anticipated $0.91, alongside revenue of $885.8M versus the $837.5M forecast, with FY2026 EPS guidance projected between $4.55 and $4.70.
• Institutional investors control approximately 94.39% of shares, with Alkeon and Invesco notably expanding their holdings, while company insiders offloaded roughly 13,327 shares valued at $2.73M during the past 90 days.

BWX Technologies (NYSE: BWXT) is strategically expanding its commercial nuclear operations through the acquisition of Precision Components Group.

BWX Technologies, Inc., BWXT

Revealed on April 20, this transaction will incorporate PCG along with its operating subsidiaries—Precision Custom Components and DC Fabricators—into BWXT’s organizational structure. PCG will become part of BWXT’s Commercial Operations division while maintaining operations at its current production sites.

According to BWXT, this strategic move delivers more than 500,000 square feet of domestic heavy-manufacturing infrastructure. The acquisition also integrates a highly trained workforce exceeding 400 employees.

PCG generated approximately $125 million in annual revenue, representing a substantial addition to BWXT’s financial performance. Company leadership positions this acquisition as an initial phase in expanding domestically-based commercial nuclear manufacturing capabilities.

According to John MacQuarrie, President of Commercial Operations at BWXT, the deal “builds on BWXT’s strong performance in the commercial nuclear industry” and addresses “the accelerating needs of US commercial nuclear customers.”

Robust Financial Performance Supports Expansion

BWXT entered this acquisition from a position of financial strength. The company surpassed analyst projections in its latest reporting period, delivering EPS of $1.08 versus the consensus estimate of $0.91. Revenue reached $885.8 million, exceeding the anticipated $837.5 million.

This revenue represented an 18.7% increase compared to the previous year, and across fiscal 2025, BWXT achieved 18% total revenue growth to $3.19 billion. Earnings per share expanded 20% during the same timeframe with a net profit margin of 10.3%.

Looking ahead to FY2026, management established EPS guidance ranging from $4.55 to $4.70. Market analysts maintain a consensus “Moderate Buy” recommendation with an average price target of $207.60.

BWXT stock commenced trading Friday at $223.54, positioned above both its 50-day moving average of $211.42 and its 200-day moving average of $198.99. The stock trades within a 52-week range spanning $102.42 to $241.82 and maintains a market capitalization of $20.48 billion.

The company also incrementally increased its quarterly dividend from $0.25 to $0.27, equating to an annualized $1.08 with approximately 0.5% yield.

Institutional Investors Maintain Strong Presence

Institutional stakeholders control approximately 94.39% of BWXT shares. Multiple major investment firms expanded their positions during recent quarters. Alkeon Capital Management increased its holdings by 163% in Q3, accumulating over 1.57 million shares valued at roughly $291 million. Invesco boosted its stake by 60.1% to surpass 2.5 million shares.

B. Metzler seel. Sohn & Co. AG established a new position during Q4, acquiring 9,481 shares worth approximately $1.64 million.

Conversely, company insiders reduced holdings by roughly 13,327 shares totaling $2.73 million throughout the previous 90 days. CAO Kevin James Gorman divested 1,344 shares in early March at an average price of $214.71. Insider ownership currently represents about 0.60% of total shares.

Regarding analyst perspectives, Wells Fargo launched coverage with an “underweight” designation and $200 price objective. TD Cowen assigned a “buy” rating with a $230 target. Zacks Research elevated BWXT from “hold” to “strong-buy” status in January.

BWXT maintains its position as the exclusive provider of naval nuclear reactors for US submarines and aircraft carriers, having manufactured over 400 naval reactors since the commissioning of the USS Nautilus.

Key Takeaways

• Pavel Durov, founder of Telegram, attributes the spike in cryptocurrency kidnappings across France to compromised tax databases
• Approximately 41 digital currency investors have been abducted in France during early 2026 — averaging one incident every 2.5 days
• Ghalia C., a former tax administration employee, faces charges for allegedly providing cryptocurrency investor information to criminal organizations in 2025
• Notable incidents involve Ledger co-founder David Balland’s abduction and a Burgundy family taken hostage
• The Telegram chief states his platform would withdraw from French operations before permitting government access to encrypted communications

A disturbing pattern of violent attacks against digital currency investors has emerged across France. Pavel Durov, the founder of Telegram, has directly connected this alarming trend to breached government databases and suspected misconduct by a former tax administration employee.

In a statement shared on X, Durov revealed that approximately 41 cryptocurrency investors have fallen victim to kidnapping schemes in France since January 2026. The frequency translates to one abduction occurring approximately every 60 hours.

“More data = more victims,” Durov stated, highlighting what he characterized as widespread compromises of tax information systems and the exploitation of cryptocurrency holder records by criminal enterprises.

The underlying risk is clear. Once criminals obtain personal identifiers, residential locations, and wealth information, they can systematically identify high-value cryptocurrency owners and execute targeted physical attacks.

Durov explicitly referenced Ghalia C., a former employee within France’s tax authority who was arrested in June 2025. Prosecutors allege she provided sensitive information about cryptocurrency investors and industry professionals to organized crime networks. This intelligence was subsequently used to orchestrate violent robberies and extortion campaigns.

Notable Incidents

Multiple cases have captured public attention and concern. David Balland, co-founder of cryptocurrency security firm Ledger, was abducted along with his spouse in January 2025. During the harrowing ordeal, Balland suffered severe injury to his hand before law enforcement successfully intervened.

In April 2026, criminals kidnapped a woman and her 11-year-old child in the Burgundy region. Four individuals demanded 400,000 euros from the child’s father, identified as a cryptocurrency business owner.

Another home invasion in Ploudalmézeau resulted in a mother, two children, and their grandparents being held against their will for multiple hours. These criminal operations have spread across numerous French departments.

May 2025 saw an attempted daylight abduction of a cryptocurrency company executive’s daughter in Paris. Another case involved the kidnapping of a digital asset investor’s family member, with perpetrators demanding payment in cryptocurrency.

These events demonstrate a troubling evolution from sporadic occurrences to a systematic campaign by organized criminal networks specifically targeting the cryptocurrency community.

Government and Industry Action

French government officials have acknowledged the severity of the situation. Jean-Didier Berger, minister delegate to the interior minister, addressed concerns during Paris Blockchain Week on April 16, announcing that protective protocols are being implemented for cryptocurrency investors.

Blockchain security researcher ZachXBT has also elevated these cases in his investigative work. “I prioritize these types of cases as they have grown more frequent,” he shared on X, encouraging victims to make immediate contact.

Durov, meanwhile, rejected suggestions that expanding government surveillance capabilities would mitigate the problem. He contends that increased data collection amplifies vulnerability and declared Telegram would exit the French market entirely before granting French officials access to encrypted user communications.

By April 2026, French law enforcement has verified active investigations and numerous apprehensions connected to organized criminal operations, including groups with international ties.

Bitcoin pushed back toward the $79,000 level as easing geopolitical tension driven by the potential extension of the U.S. Iran ceasefire talks lifted overall risk sentiment. The move was supported by renewed ETF inflows and increased derivatives activity, reinforcing short-term momentum.

At the same time, recent pullbacks tied to geopolitical uncertainty have highlighted how quickly sentiment can shift. Sharp reversals remain a defining feature of the market, and that volatility is starting to influence how investors position capital.

Rather than relying solely on price movement, a growing share of capital is moving toward structured income strategies. Platforms like Varntix reflect this shift, offering fixed-term allocations with predefined stablecoin payouts. The aim is not to replace exposure to assets like Bitcoin, but to introduce a more predictable income layer alongside ongoing market fluctuations.

Can Bitcoin Price Sustain Momentum Amid Macro Uncertainty?

According to the New York Post, Trump has indicated that U.S.–Iran peace negotiations could restart as early as Friday, following a decision to extend the truce indefinitely.

Bitcoin responded with a modest rebound, gaining over 1% and pushing its 24-hour advance beyond 4%, with price hovering near $78,900. The intraday range has been relatively wide, with a low around $74,852 and a high near $78,728. However, the move comes alongside a sharp drop in trading volume down roughly 32% suggesting that traders remain cautious despite the upward momentum.

Source: CoinMarketCap

Grayscale Research has suggested that Bitcoin could find a bottom in the $65,000 to $70,000 range, pointing to a more cautious near-term outlook. At the same time, the Bitcoin Bull Index has shifted to neutral for the first time in six months, reflecting a cooling in overall sentiment.

Despite this, derivatives activity is picking up. CoinGlass data shows a notable increase in futures positioning, with total open interest rising more than 9% in the past 24 hours to exceed $62 billion, indicating growing participation even as directional conviction remains mixed.

Structured Crypto Income: The Varntix Approach

While Bitcoin continues to react to geopolitical headlines and liquidity shifts, not all investors are positioning around direction alone. A growing share of capital is moving toward structures that don’t depend on whether price moves up or down next.

That’s where Varntix is starting to stand out. It offers a structured approach to earning yield on digital assets through dedicated savings plans, where capital is allocated for set periods and returns are defined upfront.

Payouts are made in stablecoins like USDT or USDC, creating a more predictable experience. Instead of reacting to market swings, investors know what they are committing, how long it is allocated and what it is expected to return over that period.

Varntix introduces flexibility through a savings structure that offers two distinct approaches. Fixed plans are designed for investors who want higher returns over longer timeframes, while flexible accounts prioritise liquidity, allowing withdrawals when needed even if the yield is lower.

The contrast becomes clearer when you look at a simple $2,500 allocation. With Bitcoin, the outcome is entirely dependent on price movement. If the price rises by 20%, the position gains around $500. If it falls by the same amount, the loss is similar. If the market moves sideways, there is no return at all. Everything depends on timing and direction.

Varntix removes that dependency by defining the return in advance. A fixed plan can generate roughly $600 over a year regardless of how the market performs. A flexible plan produces a lower but steady return, typically between $107 and $162 annually, while still allowing access to the capital when required.

The key difference is predictability. Instead of outcomes shifting with market volatility, investors receive stablecoin-based income that follows a clear structure, making it easier to plan around both growth and liquidity even in uncertain market conditions.

Take a closer look at Varntix if you want your crypto to work harder.

FAQs

Q1: What is Varntix in relation to Bitcoin price movements?
 Varntix is a fixed-income crypto model that operates independently of Bitcoin price direction, offering stablecoin returns instead of market-dependent gains.

Q2: How does Varntix make returns different from trading Bitcoin?
 Bitcoin returns depend on price fluctuations, while Varntix provides predefined yields over fixed terms, paid in stablecoins like USDT or USDC.

Q3: Why are investors considering Varntix during volatile Bitcoin markets?
 Because Bitcoin price is highly reactive to geopolitical and macro news, Varntix offers a way to earn a predictable income without needing to time market swings.

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

Nashville, TN — April 22, 2026 — Bitcoin 2026, the world’s premier Bitcoin conference, today announced that Acting Attorney General Todd Blanche and FBI Director Kash Patel will join an elite lineup of speakers at this year’s landmark event, taking place April 27–29, 2026 at The Venetian, Las Vegas.

AG Blanche and Director Patel will appear as part of Code & Country 2026, the conference’s flagship policy forum taking place on April 27 starting at 10:30 AM, open to Pro Pass and Whale Pass holders. The forum is designed to facilitate direct engagement between Bitcoin builders and U.S. policymakers, with no intermediaries, on the legislative and regulatory issues shaping technology, civil liberties, and digital assets.

Acting Attorney General Todd Blanche and Director Patel will participate in a fireside chat moderated by Paul Grewal. The broader Code & Country 2026 track features an exceptional roster of policymakers and regulators, including Senator Cynthia Lummis (R-WY), the architect of landmark Bitcoin legislation in Congress; SEC Chairman Paul Atkins; CFTC Chairman Mike Selig; and Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets at the White House, among others. The full conference speaker lineup also includes Michael Saylor, Founder & Executive Chairman of Strategy, Robert Mitchnick, Head of Digital Assets at BlackRock, Caitlin Long, Founder & CEO of Custodia Bank, Arthur Hayes, CIO of Maelstrom, and Aleš Michl, Governor of the Czech National Bank.

Director Patel’s fireside chat, titled “Code is Free Speech: Ending the War on Bitcoin,” is expected to be one of the most anticipated sessions of the forum, offering attendees a rare and candid conversation with the nation’s top federal law enforcement official on the intersection of open-source software, civil liberties, and digital assets.

The announcement signals a watershed moment for the Bitcoin community, reflecting growing recognition at the highest levels of government of Bitcoin’s role in the future of finance and free expression. Code & Country 2026 comes at a pivotal moment, during a U.S. election year when congressional agendas, committee priorities, and regulatory frameworks are actively taking shape.

“We are honored to welcome Acting Attorney General Todd Blanche and FBI Director Kash Patel to the Bitcoin 2026 stage,” said Brandon Green, CEO of BTC Inc. Bitcoin 2026 organizer. “Their session promises to deliver extraordinary insight into how federal policy is evolving around Bitcoin development, free speech, and the ability to build great products in America that people need. Alongside Senators Lummis and Moreno and Representatives Nunn, Lawler, Miller-Meeks, Begich, and the rest of our policy lineup, this is shaping up to be the most consequential policy forum in Bitcoin’s history.”

Code & Country was formally launched as a branded track in 2025, building on programming that featured senior U.S. political leaders including Vice President J.D. Vance, White House AI & Crypto Czar David Sacks, House Majority Whip Tom Emmer, and SEC Commissioner Hester Peirce, among others. The 2026 edition expands on that foundation with a focus on energy infrastructure, stablecoin regulation, and civil liberties in the digital age.

Director Patel’s appearance comes amid significant community interest in open-source software rights and the legal treatment of Bitcoin developers. His fireside chat is expected to shed light on the federal government’s posture toward the Bitcoin development community going forward. Further speaker and programming details will be announced ahead of the event.

About The Bitcoin Conference

The Bitcoin Conference, organised by BTC Inc, a Nakamoto Inc. (NASDAQ: NAKA) company, is a global event series featuring notable industry speakers, workshops, exhibitions, and entertainment. These events serve as vital platforms for Bitcoin industry leaders, developers, investors, and enthusiasts to gather, network, and exchange ideas. The Bitcoin Conference hosted approximately 67,000 attendees in 2025 across its events in the United States, Asia, Europe, and the Middle East.

Bitcoin 2026 will be held in Las Vegas, April 27–29. The international event series continues with Bitcoin Hong Kong (August 27–28, 2026), Bitcoin Amsterdam (November 5–6, 2026), and Bitcoin MENA in Abu Dhabi (December 2026).

Pi Network will sponsor Consensus 2026 in Miami, placing the project before blockchain builders, investors, and policy figures. 

The event comes as the network tries to turn its large user base into broader ecosystem activity.

The project’s two co-founders, Nicolas Kokkalis and Chengdiao Fan, will speak during the conference. Their sessions will focus on Pi’s blockchain infrastructure, digital identity, artificial intelligence, and future application development.

Founders to address AI, Web3, and identity

Chengdiao Fan is scheduled to speak on May 6. Her presentation will cover how Pi’s blockchain, verified identity system, and global user network may support products built for the AI and Web3 era.

Nicolas Kokkalis will speak on May 7 during a panel about proving human identity online while protecting user privacy. The topic has gained more attention as artificial intelligence tools make online impersonation easier.

Pi Network said in an X post, “The Pi Founders will both take the stage as speakers at the Consensus 2026 conference.” The post also said Fan will discuss Pi’s infrastructure and verified identity network.

Moreover, Pi Network continues to present identity verification as one of its main features. The project uses a KYC-based model that combines human checks and AI-supported tools to verify users.

The network claims it has more than 18 million verified users. It also says its system has completed hundreds of millions of verification tasks across its community.

This approach places Pi Network among blockchain projects trying to build proof-of-personhood systems. Pi also uses its mobile-first design to reach users across different markets.

Protocol upgrades mark transition phase

Pi Network’s Consensus 2026 appearance comes during a technical transition for the project. Node operators must upgrade to Protocol 22 by April 27, or failed nodes may be removed from active network support.

Protocol 22 supports node software and desktop applications. The upgrade also prepares the network for Protocol 23, which is expected in May and is designed to support smart contracts.

The planned PiRC1 token standard also points to a wider ecosystem push. These upgrades may help developers build more applications on Pi Network.

Pi coin price rose 5.30% in 24 hours to trade near $0.180, according to CoinGecko data. The move came as market attention turned to Pi Network’s role at Consensus 2026 and its planned network changes.

Pi Network’s PI (PI) token recovered over the weekend as several altcoins moved higher. PI rose more than 5% in 24 hours and traded above $0.18.

The rebound followed recent weakness in the Pi Network token. STABLE led the daily gainers with a 7% move to $0.034, while PI ranked among the stronger performers.

Bitcoin (BTC) also moved higher after a quiet weekend. The asset briefly touched $78,200 before easing back near $78,000, keeping its market value around $1.56 trillion.

The move came after Bitcoin traded in a narrow range for several days. It held between about $77,000 and $78,500 after failing to extend an earlier rally toward $79,600.

Trump event report adds market attention

Reports said U.S. President Donald Trump was evacuated from the White House Correspondents’ Dinner after gunfire near the event venue. Authorities later said a 31-year-old California man was taken into custody with multiple weapons.

Bitcoin rose by about $1,000 within minutes after the report before pulling back. The move kept traders focused on how political and security events may affect short-term crypto prices.

Altcoins show mixed weekend moves

Several altcoins posted gains alongside PI. XMR and SKY rose more than 4% on the day, while ETH, TRX, and DOGE traded slightly higher.

Other large tokens moved lower. XRP, BNB, SOL, HYPE, and BCH recorded small losses, while RAIN fell 5% in the same period.

The total crypto market value moved back near $2.7 trillion after adding about $40 billion from the previous day’s low. Bitcoin’s market share remained above 58%, showing that traders still focused on BTC during the weekend recovery.

The biggest traders on Hyperliquid have been building a long bitcoin BTC$78,113.00 position for two months, and the price chart is starting to break their way.

Glassnode data shows whale positioning on Hyperliquid, the onchain perpetual futures exchange, flipped from net short to net long in early March and has stayed long ever since, with the size of the long bias increasing through April.

The shift coincides with bitcoin grinding higher from the mid-$60,000s in February to a brush near $80,000 earlier this week.

Hyperliquid has, in the past year, become the onchain venue of choice for traders running large positions, and a sustained long bias from that cohort tends to lead spot bitcoin price action by days to weeks rather than follow it.

The flip to net long in early March preceded the recovery from the mid-$60,000s. The positioning is now the most aggressively long it has been across the dataset.

Bitcoin perpetual swap funding across major exchanges sits at -0.13% on a seven-day basis according to Coinglass, meaning shorts are paying longs to keep their positions open.

That negative funding has held for roughly 47 consecutive days, one of the longest stretches of bearish derivatives positioning on record. Sustained negative funding matched with aggressive long positioning from Hyperliquid whales is the technical setup that produces short squeezes when spot prices break higher.

In traditional finance, the S&P 500 closed at a record high on Friday, capping its longest weekly advance since 2024.

In Pakistan, meantime, the weekend’s talks between Iran and the U.S. didn’t take place. President Donald Trump canceled his delegation’s trip to Islamabad after the Iranian foreign minister left the country before the U.S. group even set off.

Treasury yields dropped as the Justice Department closed its probe into Federal Reserve Chair Jerome Powell, potentially clearing the path for Kevin Warsh’s confirmation as the next Fed leader.

Quite where those developments leave the Hyperliquid long positions will become apparent over the coming hours and days.