Global stocks hit records and oil cracked on a tentative US-Iran ceasefire extension. Crypto stayed on the sidelines, with some analysts saying the next catalyst is regulatory, not geopolitical.

Bitcoin is forming a potential lower high while ether languishes in a months-old range, even as S&P 500 and Nasdaq futures push higher on Tuesday.

Bitcoin trades around $77,000 as rising Middle East tensions weigh on sentiment. Bitcoin ETFs saw $105.2 million in net outflows on Friday, while Ethereum ETFs reported $6.7…