Bitcoin Jumps Above $82,000 As US-Iran Deal Hopes Lift Markets
Bitcoin pushed above $82,000 on Wednesday as markets rallied around fresh hopes that the US and Iran are moving closer to a framework agreement that could cool the conflict and ease pressure on global energy markets. The move extended Bitcoin’s recovery from its early-February low near $60,000, putting the asset up more than 36% from that level. It also added weight to a technical shift that began in late April, when BTC broke above a major downtrend line that had capped price action since the October 6 all-time high at $126,199. After confirming the breakout with a successful retest,....
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A wave of forced liquidations swept through crypto markets on Tuesday as traders who had bet against Bitcoin and Ether were caught off guard by a sharp price surge tied to hopes of a US-Iran agreement. Related Reading: Dollar’s Shrinking Value Adds Fuel To XRP Bull Case: Finance Expert Around 80% of the $530 million in total liquidations over 24 hours — roughly $425 million — came from leveraged short positions in the two largest cryptocurrencies. Bitcoin touched just under $75,000 on CoinMarketCap, a level not seen in nearly a month, before running into heavy resistance and retreating to....
The US-Iran war continues to linger with the two countries yet to reach a deal, and US President Donald Trump is threatening new strikes against Iran. Amid this, Iran has moved to launch a Bitcoin-backed service as it looks to assert control over the Strait of Hormuz. U.S.-Iran War In Focus Amid Trump’s Threat and New Bitcoin Service According to a Reuters report, US President Donald Trump has threatened that a new US attack on Iran could happen in the coming days if both sides fail to reach a deal. This came amid his revelation that he was close to ordering a strike against Iran earlier....
The Central Bank of Iran soon plans to launch the pilot phase of its digital currency project, an official unveiled. The Islamic Republic hopes to a join a growing club of nations that want to take advantage of having a sovereign coin, while it also seeks to implement blockchain technology in other areas.
Iran to Begin State-Backed Digital Currency Trials
The monetary authority of Iran intends to pilot its central bank digital currency (CBDC) in the near future, a high-ranking representative of the financial regulator said, quoted by the Iranian Labour News Agency (ILNA). The....
A recently established crypto industry association in Iran has commenced activities under the country’s chamber of commerce. Its management hopes to help remove obstacles challenging its members while facilitating the implementation of blockchain technology in the sanctioned nation’s economy. Industry Association to Address Blockchain-Related Challenges in Iran The newly-established Iran Blockchain and Cryptocurrency Association (IBCA) has started operating under the supervision of Iran Chamber of Commerce, Industries, Mining and Agriculture (ICCIMA), the English-language....
Companies using natural gas as a power source to mint digital currency in Iran will have to deal with a sharp increase in the price of the fuel. The new rates set by the state-run supplier are almost double the previous and have been imposed retroactively, local media reported. Iran Raises Tariffs for Mining Farms Running on Natural Gas The National Iranian Gas Company, an enterprise under the Ministry of Petroleum of the Islamic Republic, has informed cryptocurrency miners about a raise of natural gas rates, the English-language daily Financial Tribune announced, quoting a report by....