The potential closure of the Strait of Hormuz could trigger global economic instability, with rising oil prices exacerbating inflationary pressures. The post Bitcoin crashes as Iranian Parliament approval of Hormuz Strait closure threatens oil disruption, stokes global inflation appeared first on Crypto Briefing.

Bitcoin crashes as Iranian Parliament approval of Hormuz Strait closure threatens oil disruption, stokes global inflation

Trump’s tariffs just reshaped bitcoin’s backbone, Blackrock could orchestrate 
institutional bitcoin takeover, Trump praises Senate-backed stablecoin bill, 
and more in this Week in Review. Week in Review Chinese mining giants Bitmain, 
Canaan, and MicroBT are relocating operations due to Trump-era tariffs. 
Meanwhile, concerns over Bitcoin’s decentralization have emerged, with podcast 
host Vlad Costea warning of […]

Trump’s Tariffs Reshaped Bitcoin’s Backbone, Institutional Bitcoin Takeover, and More — Week in Review

Roughly 240,000 traders were liquidated in the past 24 hours as the crypto 
market reeled from news that U.S. bombers attacked Iran’s main nuclear sites, 
according to Coinglass. Total liquidations topped $1.03 billion by midday on 
Sunday in New York,…

Crypto market hit by $1b in liquidations after US strikes Iran

More than $1 billion in crypto positions were wiped out over the past 24 
hours, as bitcoin dropped below the $99,000 mark for the first time in over 
six weeks. Crypto Traders Hit Hard: 240,000 Liquidated in $1B Flush Crypto 
markets faced intense pressure Sunday as more than $1.03 billion in leveraged 
positions were liquidated […]

Over $1B in Leveraged Crypto Positions Wiped Out After BTC Drops Under Key Threshold

Blockchain tracking service Whale Alert posted a major alert showing that 
129,392 ETH was transferred from an unidentified wallet to Coinbase as the 
Ethereum price tumbled. On-chain data from Etherscan shows that this 
particular wallet had not been involved in the transfer of large ETH volumes 
since November 2022. This sudden reactivation and deposit into a centralized 
exchange opens up speculation of a looming selloff, especially given the 
timing of the transfer. Massive ETH Transfer As Middle East Tensions Escalate 
Whale transaction tracker Whale Alerts, which initially reported the transfer 
on the social media platform X, noted that at the time of the transfer, these 
129,392 ETH were worth $312,981,377. The timing of the transfer is noteworthy 
because it occurred when the price of Ethereum failed to hold above $2,500 and 
had already begun to struggle to stay above $2,400. Related Reading: XRP On- 
Chain Activity Down 80% In 5 Months, Experts Argue Bullish/Bearish 
Implications Etherscan&#8217;s tracking of on-chain transactions indicates that the 
unknown wallet &#8220;0xd47b,&#8221; which was involved in the transfer, has been 
relatively inactive since late 2022. Particularly, its last transaction was an 
inflow of 6,469 ETH from another wallet linked to Coinbase. The latest 
transfer into Coinbase leans more towards the possibility of a selloff through 
the exchange. Since then, the Ethereum price has lost a key support level at 
$2,450. Its price has fallen notably in the past 48 hours. Although other 
factors are clearly contributing to the dip, particularly new geopolitical 
tensions after the US launched attacks on Iran, this whale deposit into 
Coinbase may have increased the downward pressure. Exchange inflows of this 
magnitude are a precursor to liquidation, particularly now that investor 
sentiment is on edge. Bearish Setup Confirms Downside Targets The technical 
picture for Ethereum is now turning bearish, at least in the short term. 
Technical analysis of Ethereum&#8217;s 4-hour chart on the TradingView platform 
shows a clear bearish breakdown setup after Ethereum broke below a crucial 
support line at $2,362. That support level has now been breached, and 
confirmation of the breakdown amplifies a bearish case moving forward. Related 
Reading: Bitcoin Price Breakdown Spurs Sell-Offs, Analyst Reveals What Will 
Happen If BTC Hits 92,800 Chart Image From TradingView The chart above, which 
includes overlays of the Ichimoku Cloud, shows a fading bullish momentum in 
the past few days. Previous failed attempts to break resistance have left 
Ethereum in a vulnerable zone, and the recent whale selloff may have delivered 
the final push needed to trigger this leg down. If the current trajectory 
continues, Ethereum could be on its way to retesting lows below $2,000. 
According to the TradingView analysis, potential reversal targets are at 
$2,151 and $1,954, with a third possible level at $1,750 if the selloff is 
more than expected. At the time of writing, Ethereum is trading at $2,290, 
down by 5.5% and 10% in the past 24 hours and seven days, respectively. 
Featured image from Dall.E, chart from TradingView.com

$312M ETH Transfer Triggers Sell-Off Fears As Ethereum Price Crashes Below Support

Technical patterns point to a potential 25% rebound in Ether’s price, with 
whales scooping $263.5 million worth of ETH during the price dip.