Bitcoin's price rally is back in focus as market seeks for stability after weeks & weeks of intense rattling.
Bitcoin is showing signs of tentative recovery after holding $60k support. The price is now located around the low $70k region once again.
Bitcoin (CRYPTO: BTC) moved above $71,000 following improved geopolitical sentiment, but on-chain data suggests the market remains cautious rather than fully bullish. Defensive, Not Panicked Data from CryptoQuant shows that exchange reserves on major platforms such as Binance and Coinbase remain well below their early 2025 levels — a continued trend of Bitcoin being withdrawn from exchanges rather than positioned for sale.
Bitcoin bulls failed to stay above $72,000 for long as BTC price action already began to discount the impact of a US-Iran ceasefire agreement.
Shrinking exchange balances and steady outflows reflect tightening supply despite muted price recovery.
Iranian officials said Bitcoin payments would ensure the tolls “can't be traced or confiscated due to sanctions.”
Iran is reportedly open transit tolls paid in bitcoin and crypto for ships crossing the Strait of Hormuz amid volatile ceasefire.
Similarities reflect shared early research, not proof, said Back. Others have questions too.
Commercial players, including Strategy, BlackRock, and Fidelity, are expected to play a "constructive role" in security, the analysts said.
Economist Steve Keen, best known for warning of the 2008 global financial crisis well before it hit, has reignited a long-running debate in crypto by arguing that Bitcoin (BTC) will ultimately converge to ‘zero'. His claim is less a short-term price call than a broader critique of what he sees as Bitcoin's dependence on energy abundance, its friction with climate policy, and its incompatibility with the way modern economies finance growth.
Bitfinex analysts cautioned that PCE inflation data on Thursday could be a 'test' for the mid-week BTC rally
Crypto markets pushed higher after Iran and USA confirmed a ceasefire, sending Bitcoin above $71,000 for the first time in weeks. But alongside the rally, a second - more structural - narrative is emerging: Iran is reportedly preparing to require oil tankers transiting the Strait of Hormuz to pay tolls in Bitcoin or other crypto assets.