šIran Launches āHormuz Safeā as Bitcoin and XRP Face Market Pressureā ļø
šThe crypto market remained weak after rising inflation reduced hopes of U.S. interest rate cuts this year. Bitcoin dropped below $79,000, Ethereum slipped under $2,200, and XRP traded near $1.40. The overall crypto market lost nearly $90 billion in value as investors faced strong selling pressure. U.S. spot Bitcoin ETFs also saw heavy withdrawals, including major outflows from BlackRockās IBIT fund, increasing concerns among institutional investors
š„At the same time, geopolitical tensions increased after Iran launched its new āHormuz Safeā Bitcoin-based insurance platform linked to the Strait of Hormuz shipping route. Analysts say Bitcoin must reclaim $79,000ā$81,000 to regain bullish momentum, while XRP needs to move above $1.45 and $1.50 for stronger recovery chances. If selling pressure continues, Bitcoin and XRP could test lower support levels again #CanaryCapitalFilesStakedTRXETF #MubadalaBoostsBitcoinETFTo$660M #JapaneseSecuritiesFirmsCryptoInvestmentTrusts $XRP $BTC $RIVER
