U.S. and Iran Exchange Fire in Strait of Hormuz
Bitcoin (BTC) price dropped below 80,000 USD following a clash between the U.S. and Iran in the Strait of Hormuz.
As of 9:36 a.m. on Friday (Korean time), South Korea’s Bitcoin price on Bithumb increased by 0.01% compared to the same time yesterday, reaching 118,069,000 KRW (approximately 80,765 USD).
Simultaneously, CoinMarketCap reported that the global Bitcoin price fell by 1.40% from the previous day, settling at 79,981 USD. After trading around 81,000 USD yesterday, it breached the 80,000 USD support level today.
The decline in Bitcoin’s price is attributed to the exchange of attacks between the U.S. and Iran while both nations were discussing ceasefire terms, as Bitcoin is considered a risk asset.
On Thursday, U.S. Central Command (CENTCOM) announced that U.S. Navy guided-missile destroyers intercepted a surprise attack from Iran while transiting the Strait of Hormuz en route to the Gulf of Oman. The U.S. forces responded with defensive strikes.
In retaliation to Iran’s assault using missiles, drones, and small boats, the U.S. conducted counterstrikes targeting missile and drone launch sites, as well as command and surveillance facilities.
Former President Donald Trump commented on Truth Social that three U.S. destroyers escaped the Strait of Hormuz under fire, adding that Iran is not a normal country.
He further stated that if given the opportunity to use nuclear weapons, they would undoubtedly do so, but that opportunity will never come.
Iran countered these claims, accusing the U.S. of violating the ceasefire by attacking oil tankers and civilian areas.
Bitcoin Wallets Decrease by 240,000 in Five Days
Analysis shows that the number of Bitcoin wallets has decreased by approximately 245,000, marking the largest decline in two years.
According to foreign media reports on Thursday, on-chain analytics firm Santiment revealed in a recent report that the number of Bitcoin wallets dropped by 245,000 in just five days, noting it as the most significant decrease since the summer of 2024.
Santiment suggested that retail investors exiting the market often coincides with the beginning of a bull market, indicating that this wallet decrease could potentially signal an upcoming price rally.
Coinbase Reports 1.4 Billion USD in Q1 Revenue, Missing Expectations
Coinbase, the largest cryptocurrency exchange in the U.S., reported 1.4 billion USD in revenue for the first quarter of this year, falling short of market expectations.
According to CoinDesk on Thursday, Coinbase’s total revenue for the first quarter reached 1.41 billion USD, below the market forecast of 1.52 billion USD.
The core revenue from transaction fees amounted to 758 million USD, also missing the expected 805 million USD. Analysts attribute this shortfall to diminished investor sentiment amid the cryptocurrency market slump in the first quarter.
April Sees Record High in Stablecoin Market Cap
Last month, the global market capitalization of stablecoins hit a new all-time high of 312 billion USD.
CoinDesk reported on Thursday that the total stablecoin market cap increased by 1.6% from the previous month, reaching 321 billion USD. This marks the highest level ever recorded, with the stablecoin market experiencing growth for three consecutive months.
Notably, Tether (USDT) maintained its dominant market position, with a market cap of approximately 190 billion USD, accounting for over half of the total stablecoin supply.