Markets React to Iran-US Geopolitical Shifts, Mixed Q1 Earnings, and Surging Crypto Activity

1. An informal Iran-US MOU emerged with potential US troop withdrawal and lifting of naval blockade, but Iran countered with a ban on "hostile" vessels in the Strait of Hormuz, triggering a crude oil price drop.
2. PDD Holdings reported Q1 revenue miss, causing shares to fall 5% premarket, while Abercrombie & Fitch and DICK'S Sporting Goods beat profit estimates and raised outlooks.
3. BlackRock deposited 2,538 BTC to Coinbase worth $193 million; MicroStrategy reached a new all-time high, and Ethereum's MVRV ratio approaches a macro accumulation zone.