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Seeing the crypto news today, there are truly interesting events happening in the market, from international political situations to large capital movements. Let me analyze the brief news for you.
Starting with the most intense story, is Iran's capital outflow into crypto after military events. Data from Elliptic shows that the cash flow out of Nobitex, Iran's main trading platform, surged over 700% in just a short time, exceeding $500,000 and reaching $3 million within an hour. But once the government cut internet access by 99%, everything stopped. This highlights the weakness of crypto—no matter how good the asset is, if there's no internet, it becomes just a number in the system with no meaning.
Next is news from Fold announcing the debt clearance of $66.3 million. Unlocking 521 Bitcoin that was previously collateralized is a good sign. Although the company's stock has fallen more than 84% since going public earlier this year, this restructuring allows Fold to operate more smoothly and aims to enter the Bitcoin rewards credit card market to compete with major players in the crypto industry.
Regarding XRP, caution is advised. The price recently hit resistance at $1.42 and then broke down. Currently, the price is at $1.39, down 2.59% in 24 hours. Worryingly, over 472 million XRP worth $652 million has been transferred to leading trading platforms in recent weeks. This is a warning sign that reserve coins have increased by 7%, and major investors may be preparing to sell to reduce risk. If the support at $1.20 breaks, the next target could quickly drop to $0.95.
Meanwhile, Michael Saylor of MicroStrategy continues to buy Bitcoin as if he never stopped. This time, he invested $204.1 million to purchase an additional 3,015 BTC at an average price of $67,700 per coin, which is below the company's previous average cost of $75,985. The company now holds a total of 720,737 Bitcoin, with a total cost of around $54.8 billion. This attitude shows his long-term confidence and his smart use of traditional financial tools to accumulate digital assets.
In summary, analyzing today's news, the market is showing both fragility and strength at the same time. Big players remain confident, but warning signs from coin movements should not be overlooked.