Coindesk

Bitcoin BTC fell below $100,000 on Sunday, its lowest point since May, signalling risk aversion on Wall Street on Monday amid reports that Iran is leaning towards blocking the Strait of Hormuz.The Strait, located between Oman and Iran, connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, handling roughly 20% of the global oil trade.Reports of Iranian politicians mulling the closure of the Strait had observers worried about a significant spike in oil prices early Monday."After US strikes on Iran last night, 50+ large oil tankers were scrambling to leave the Strait of Hormuz. Markets have been closed, but an immediate drop in supply is expected to send prices higher. JP Morgan described this as their...

Cardano (ADA) ADA is trading at $0.5478, down 6.45% over the past 24 hours, after a sharp correction fueled by market anxiety surrounding escalating geopolitical conflict in the Middle East. The token fell from a high of $0.586 to a low of $0.5464, with the steepest drop occurring during the 21:00 hour when ADA fell 3.2% on 126 million volume, according to CoinDesk Research's technical analysis model. 24-hour trading volume climbed to 37.37% above its 30-day average.Despite this volatility, Cardano continues to attract long-term interest. Nearly $1 billion worth of ADA has been withdrawn from centralized exchanges in 2024, and over 310 million tokens have been accumulated by large holders in June alone.Institutional interest in the Cardano ecosystem was also...

Dogecoin is showing early signs of recovery after a steep intraday drop that pushed prices to their lowest levels in weeks. The sell-off, triggered by broader macroeconomic uncertainty and geopolitical tensions, found strong buyer interest near the $0.151 level, with volume spiking to 828 million units during the capitulation. Since then, DOGE has stabilized near $0.157, forming higher lows and hinting at a potential bottoming structure.News BackgroundGlobal economic pressures — from escalating trade disputes to hawkish central bank stances — have weighed heavily on crypto markets. DOGE, often viewed as a bellwether for retail sentiment, bore the brunt of risk-off flows. But despite the volatility, network activity has remained stable, and on-chain data shows signs of accumulation.Analysts point to the...

The probability of Iran's leadership blocking the Strait of Hormuz for shipping has increased following the U.S. airstrikes on Iran's nuclear facilities.At press time, shares of the Yes side of the Polymarket-listed contract "Will Iran Close the Strait of Hormuz before June 30 traded at 40 cents, representing a 40% probability. That's a notable increase from 14% Saturday. Meanwhile, the odds of the event occurring by the end of the year increased to 52%, up from 33% the previous day.Approximately 20 million barrels of oil are transported through the Strait of Hormuz daily, accounting for around 20% of the world's oil consumption, according to the Middle East Forum Observer. Therefore, the potential closure of the Hormuz could trigger a sustained...

The Czech government has weathered a political storm this week, surviving a no-confidence vote triggered by a $45 million bitcoin payment from a convicted criminal.The scandal has rocked Prime Minister Petr Fiala’s administration months before national elections, Reuters reports.The payment of 468 bitcoin was made to the state by a man previously jailed for running a darknet drug marketplace called Sheep Marketplace.The donation was accepted by then-Justice Minister Pavel Blazek, who later resigned amid the backlash, on behalf of the government. The bitcoin was sold for roughly 1 billion Czech koruna, worth around $45 million.Opposition party ANO, which leads polls ahead of the October vote, filed a no-confidence motion and accused the ruling coalition of potentially aiding in the laundering...