The US, Russia and China together control over 65% of global Bitcoin hashrate, 
a reminder that mining power remains heavily concentrated even as local shocks 
push smaller markets up and down. Related Reading: Bitcoin Mood Sours To 
Levels Not Seen Since Late February In that mix, Iran has seen a sharp fall. 
Its hashrate dropped about 77% in the past quarter, to roughly 2 EH/s, after 
months of conflict and disruption. Iran’s Share Drops Fast According to a 
report from Hashrate Index, Iran lost about 7 EH/s quarter over quarter. The 
decline came during a period of rising tension with the US and Israel, with 
strikes and retaliation driving instability across the region. Even so, the 
pullback did not spread in the same way to nearby mining hubs. The United Arab 
Emirates and Oman were reported to have stayed stable. Source: Hashrate Index 
The report framed the change as a local hit rather than a network-wide threat. 
Global hashrate remained near 1,000 EH/s, which means the Bitcoin network kept 
working with little sign of strain. That is partly because no single region 
has enough mining power to threaten continuity on its own. When one place 
weakens, other places can absorb the load. Iran’s drop also comes with a large 
miner count behind it. The country is estimated to have about 427,000 active 
Bitcoin mining rigs. Those machines do not all run at the same efficiency, and 
many older units have been forced out as margins tighten. Price Pressure Hits 
Miners Everywhere The broader network has also been under pressure. The 30-day 
simple moving average for global hashrate fell from 1,066 EH/s in the first 
quarter to about 1,004 EH/s in the second quarter, a drop of 5.8%. The report 
linked that move to falling Bitcoin prices, not to energy costs or regulation. 
Bitcoin has fallen more than 45% from its record high of $126,000 set in 
October. That drop has pushed mining revenue lower and made hash prices hit 
record lows. At those levels, older machines with efficiency above 25 J/TH can 
run at a loss and get shut down. The report said about 252 EH/s of marginal 
capacity is now offline, with much of it tied to older hardware. Related 
Reading: Underdog Bitcoin Miner Bags $210,000 BTC In Stunning Block Discovery 
Redistribution, Not Collapse The story the numbers tell is simple. Mining does 
not stay fixed in one place for long. It moves toward cheaper power, better 
machines and higher margins. When those conditions fade, rigs are switched off 
or shipped elsewhere. That is what happened in this case, with Iran taking the 
biggest hit while the wider network kept moving. Featured image from Pexels, 
chart from TradingView

Iran’s Crypto Mining Sector Hit Hard As Hashrate Drops Nearly 80%

The North Korean IT workers coordinated crypto payments through a server using 
a shared, easy-to-guess password “123456.”

Counterhacker exposes DPRK unit that made $1M a month working IT jobs

Binance expands institutional crypto access with a unified marketplace that 
standardizes strategy discovery, capital allocation, and execution within its 
native ecosystem, aiming to streamline participation and reduce operational 
friction for trading teams and investors. Key Takeaways: Binance introduces 
Capital Connect upgrade with 0-commission rollout and strict onboarding 
requirements. Marketplace integrates Binance Portfolio Accounts, aligning 
custody, […]

Binance Adds Institutional Focus With Capital Connect Upgrade and Portfolio Accounts

Ethereum price extended gains above $2,265 before it started a downside 
correction. ETH is now correcting gains and might find bids near the $2,120 
zone. Ethereum started a decent upward move above the $2,250 zone. The price 
is trading above $2,150 and the 100-hourly Simple Moving Average. There is a 
declining channel forming with resistance at $2,220 on the hourly chart of 
ETH/USD (data feed via Kraken). The pair could start a fresh increase if it 
stays above the $2,120 zone. Ethereum Price Corrects Some Gains Ethereum price 
remained stable above $2,150 and started a decent upward move, like Bitcoin. 
ETH price climbed above the $2,165 and $2,200 resistance levels. The bulls 
pumped the price above $2,250. A high was formed at $2,274 before the price 
started a downside correction. The price dipped below $2,200. There was a move 
below the 38.2% Fib retracement level of the upward move from the $2,059 swing 
low to the $2,274 high. Ethereum price is now trading above $2,150 and the 
100-hourly Simple Moving Average. If the bulls remain in action above $2,120, 
the price could attempt another increase. Immediate resistance is seen near 
the $2,200 level. The first key resistance is near the $2,220 level. There is 
also a declining channel forming with resistance at $2,220 on the hourly chart 
of ETH/USD. The next major resistance is near the $2,250 level. A clear move 
above the $2,250 resistance might send the price toward the $2,320 resistance. 
An upside break above the $2,320 region might call for more gains in the 
coming days. In the stated case, Ether could rise toward the $2,400 resistance 
zone or even $2,450 in the near term. More Losses In ETH? If Ethereum fails to 
clear the $2,220 resistance, it could start a fresh decline. Initial support 
on the downside is near the $2,165 level or the 50% Fib retracement level of 
the upward move from the $2,059 swing low to the $2,274 high. The first major 
support sits near the $2,120 zone. A clear move below the $2,120 support might 
push the price toward the $2,080 support. Any more losses might send the price 
toward the $2,050 region. The main support could be $2,020. Technical 
Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the 
bearish zone. Hourly RSI &#8211; The RSI for ETH/USD is now below the 50 zone. Major 
Support Level – $2,120 Major Resistance Level – $2,220

Ethereum Price Clings to $2,120, Can Bulls Drive Fresh Surge?

Bitcoin (BTC) could be preparing for another major bull rally as a Golden 
Cross has recently appeared on the cryptocurrency’s Inter-exchange Flow Pulse 
(IFP). A crypto analyst who explained the significance of this occurrence 
notes that the timeline of this Golden Cross aligns almost perfectly with past 
bull rallies. Based on this historical trend, the analyst suggests that the 
next two to three weeks are important for Bitcoin’s next move. Historical 
Golden Cross Pattern Signals Bitcoin Rally Crypto market expert CW has shared 
a new Bitcoin forecast that, if realized, could completely invalidate the 
widespread bearish outlook for the cryptocurrency. In his post on X, the 
analyst shares a chart displaying BTC’s Inter-exchange Flow Pulse, a key on- 
chain indicator that tracks the net flow of Bitcoin between exchanges. Related 
Reading: Bitcoin Rainbow Chart Says Price Is Ranging Above $60,000 For A 
Reason, Here’s Why Usually, this indicator signals a bull market when it turns 
green and a bear market or correction when it turns red. This particular 
metric is often used to identify Bitcoin’s market position and has gained 
recognition for its strong track record of predicting major market turning 
points. During his analysis, CW noted a recurring Golden Cross pattern that 
has appeared twice in Bitcoin’s history on the Inter-exchange Flow Pulse 
chart. The first time this crossover occurred was in 2019, and then it was 
subsequently repeated in 2023. In both cases, the analyst noted that the 
Golden Cross had foreshadowed the start of a massive bull rally that lasted 
for months. However, the anticipated rally did not start immediately after the 
Golden Cross emerged. Instead, the broader market waited 30 to 40 days before 
the Bitcoin bull run began. Specifically, during the 2019 cycle, BTC 
consolidated for about 30 days after its Golden Cross before skyrocketing 
above $40,000 from a low price between $4,000 and $10,000. This bull rally had 
also extended into the 2021 bull market, where the cryptocurrency found a top 
of $69,000. Subsequently, in 2023, the chart shows that Bitcoin crashed below 
$20,000 following the 2022 bear market. Shortly after, the same Golden Cross 
appeared again on the Inter-exchange Flow Pulse. Just 40 days later, Bitcoin 
climbed above $100,000, extending its bull run into 2025. BTC Set For 
Explosive Run As New Golden Cross Emerges Fast forward to today, CW noted in 
his analysis that the market cycle is currently 33 days past its most recent 
Golden Cross on the Inter-exchange Flow Pulse. This places the Bitcoin price 
right within the historical 30-40 day window. As a result, if the pattern 
continues to hold, Bitcoin could be on the verge of another sustained bull 
rally. Related Reading: Analyst Says Bitcoin Hasn’t Seen A True Bottoming 
Formation Yet, What This Means For Price With only a few days left in this 
window, the analyst warns that the next two to three weeks are critical, 
urging investors and traders to watch BTC’s price closely. Based on past 
trends, a confirmed breakout during this period could likely be the start of a 
bull run. Featured image from Pixabay, chart from Tradingview.com

Cryptocurrency price in EUR