Geopolitical Tensions, Crypto Shorting, & Middle East Shipping Incident

Market News
1. The EU and Gulf States urged Iran to ensure the Strait of Hormuz remains open without conditions, rejecting any illegitimate claims of sovereignty.
2. UKMTO reported an incident involving a merchant vessel and military forces near Oman, citing ongoing military activity in the region.
3. Abraxas Capital deposited 3 million USDC into Hyperliquid and significantly increased short positions on both Bitcoin and Ethereum.