According to Odaily Planet Daily, GameStop disclosed that the approximately 4,710 BTC it previously transferred to Coinbase Prime were not sold, but rather used as collateral to participate in a covered call strategy to earn option premiums. The company sold short-term call options through over-the-counter (OTC) transactions with strike prices ranging from $105,000 to $110,000, generating revenue while maintaining Bitcoin exposure, but also limiting potential upside. As a result of this structure, GameStop no longer directly holds Bitcoin assets, but instead records them as "receivables," representing the right to receive an equivalent amount of BTC from a counterparty in the future. Because the collateral can be rehypothecated, its position has transformed into a derivatives exposure with counterparty risk. Financial reports show that as of the end of the fiscal year, the value of receivables related to this strategy was approximately $368.3 million, while recording approximately $59.7 million in unrealized losses (due to the decline in Bitcoin prices). In addition, the company recognized approximately US$700,000 in option liabilities and US$2.3 million in unrealized gains.

According to JPMorgan Chase, amid the recent conflict in Iran, Bitcoin has exhibited characteristics similar to a safe-haven asset, demonstrating greater resilience compared to gold and silver. Data shows that gold prices have fallen by approximately 15% since March, while gold ETFs have seen nearly $11 billion in outflows, and silver ETFs have essentially reversed their previous inflows. In contrast, Bitcoin has seen net inflows during the same period, indicating relative strength. Analysts point out that gold and silver were already at high levels, and with rising interest rates and a stronger dollar, the market experienced profit-taking and position retracement. Bitcoin, however, attracted inflows during this period, exhibiting fund behavior different from traditional safe-haven assets. Furthermore, on-chain data shows a significant increase in crypto activity in Iran during the conflict, with users transferring funds to self-custodial wallets and overseas platforms. JPMorgan Chase believes that Bitcoin's strong cross-border liquidity, support for self-custodial transactions, and 24/7 trading make it an important tool for fund transfers in environments of economic instability and capital controls.

Odaily Planet Daily reports that ARK Invest, the investment firm of Cathie Wood, will utilize data from the prediction market platform Kalshi to support investment decisions and for risk management and hedging strategies. ARK indicates it will integrate Kalshi data in three ways: first, to supplement fundamental and quantitative analysis by introducing continuously updated market expectations; second, to obtain real-time signals through indicators such as trading volume; and third, for event-driven risk management, hedging key outcomes and macroeconomic and industry risks affecting the portfolio. Cathie Wood stated that introducing prediction markets into institutional investment processes is a natural extension of financial research innovation; this type of data helps quantify uncertainty and provides more forward-looking references for investments in disruptive industries.

According to CME's "FedWatch," the probability of the Federal Reserve raising interest rates by 25 basis points in April is 6.2%, while the probability of keeping rates unchanged is 93.8%. The probability of the Fed raising rates by a cumulative 25 basis points by June is 19.9%, the probability of a cumulative 50 basis point rate hike is 1.0%, and the probability of keeping rates unchanged is 79.2%.

According to Odaily Planet Daily, Trump announced a 10-day pause in the planned strikes against Iranian energy infrastructure, postponing them to 8 p.m. ET on April 6. Eamonn Sheridan, an analyst at the US financial website InvestingLive, stated that this move indicates diplomatic engagement is still progressing actively. Trump stated that negotiations with Iran are ongoing and progressing well, providing a window of opportunity to de-escalate tensions in the Middle East. This decision effectively postpones what markets had feared was a major escalation of tensions against Iran's energy sector, offering a short respite to global energy markets, particularly the oil market. By postponing the action, Washington appears to be testing whether a breakthrough can be achieved through secret channels or mediated negotiations, or at least preventing further escalation of the situation. However, the set deadline indicates that risks remain high. The April 6 deadline has become the focus of market attention, effectively acting as a binary catalyst: either diplomatic progress extends the pause or a framework agreement is reached, or negotiations fail, leading to a sharp escalation of tensions. Importantly, this does not indicate a shift in its fundamental strategy. The US retains the option to resume strikes, while Iran has previously warned of retaliation should an attack be launched. Therefore, the broader geopolitical context remains fragile.