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Bitcoin has dropped below $75,000 after failing to sustain momentum above $78,000 on Friday, with renewed geopolitical tensions between the United States and Iran driving the latest pullback.

The decline follows a series of conflicting statements and actions from both sides, which have unsettled markets and increased uncertainty.

Rising Accusations and Escalation Fears

Iranian officials recently accused US President Donald Trump of being deceptive and inconsistent, claiming that they are facing misleading signals about the actual state of negotiations.

According to reports, Iran believes both countries are close to entering another phase of escalation. This concern appears to be supported by a string of mixed messages from Washington over the past few days.

Earlier, Trump expressed appreciation for Iran’s decision to reopen the Strait of Hormuz, which initially boosted market sentiment. However, the US blockade remained in place, and Iran reversed course by closing the Strait again shortly after.

Trump later issued renewed threats while also suggesting that both nations would meet in Pakistan for another round of discussions. Iranian state media denied that any such meeting had been planned.

He further claimed there were internal divisions within Iran’s leadership and warned of severe consequences if an agreement is not reached.

Market Reaction and Outlook

This growing uncertainty has weighed heavily on Bitcoin, which has now fallen by nearly $4,000 from its recent high.

With only a few days remaining in the current ceasefire agreement, markets are bracing for further volatility. Additional price swings may occur as traditional futures markets reopen later and react to the latest developments.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Publicly traded Bitcoin mining companies offloaded more than 32,000 BTC in the first quarter of 2026, marking what appears to be the largest quarterly sell off ever recorded, based on data from Miner Weekly.

This figure already surpasses the total amount of Bitcoin sold across all of 2025, even though some companies have yet to release complete reports for the quarter.

Wave of Miner Liquidations

Leading firms behind the selling include MARA, CleanSpark, Riot Platforms, Cango, Core Scientific, and Bitdeer. Together, these companies significantly reduced their Bitcoin reserves as mining conditions became more challenging at the start of the year.

The scale of this sell off rivals previous periods of industry stress. It exceeds the roughly 20,000 BTC sold in the second quarter of 2022, when the market faced major disruption following the Terra Luna collapse.

This marks a sharp reversal from 2024, when miners were accumulating Bitcoin. By the end of that year, they had added about 17,593 BTC, pushing total holdings beyond 100,000 BTC.

The shift toward selling comes as mining profitability continues to decline. Hashprice, which measures revenue per unit of computing power, has dropped to near historic lows in the low $30 per petahash per second range.

At these levels, profit margins are heavily squeezed, especially for miners using older equipment or dealing with higher electricity costs. Holding onto newly mined Bitcoin has become increasingly difficult under these conditions.

Several structural factors have contributed to this pressure. Since China’s mining ban in 2021, global mining capacity has expanded rapidly, driving up the total network hash rate. In addition, the Bitcoin block reward was reduced in 2024, while mining difficulty has surged to about ten times the level seen in 2021. This has intensified competition across the sector.

Even though Bitcoin prices remain relatively strong compared to past cycles, despite pulling back from highs above $120,000, rising network difficulty has offset much of the potential revenue gains. As a result, many miners have opted to sell their holdings to stay afloat.

The impact is not evenly distributed across the industry. Some companies face greater financial strain depending on factors such as operational efficiency, energy costs, and access to funding.

Shift Toward Energy Focus

Beyond financial pressures, some analysts believe the identity of Bitcoin mining is evolving. Paul Sztorc, CEO of LayerTwo Labs, argued that the industry is undergoing significant change and pointed to several examples.

He highlighted that MinerMag has rebranded to Energy Mag, while the Mining Stage at Bitcoin 2026 has been renamed the Energy Stage. These changes suggest a broader shift in how the sector is being positioned.

Sztorc also noted that MARA removed direct references to Bitcoin from its website about two years ago. Similarly, Cormint has dropped the exahash metric from its platform, a standard measure traditionally used to indicate mining scale.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Investor sentiment has improved significantly over the past ten days following the ceasefire announcement between the United States and Iran. This shift has translated into strong inflows into exchange traded funds tied to major cryptocurrencies.

After a prolonged period of weak performance, spot crypto ETFs have recorded their strongest weekly inflows since mid January.

Bitcoin ETFs See Strong Comeback

According to data from SoSoValue, April 17 marked the best day for Bitcoin ETF inflows since January 14, with more than $663 million entering the funds. BlackRock’s IBIT led with $284 million, followed by Fidelity’s FBTC with $163.4 million.

This surge was likely driven by optimism surrounding developments in the Middle East, particularly announcements about the reopening of the Strait of Hormuz.

For the week, total inflows came close to $1 billion, making it the strongest five day performance since mid January. The only outflow occurred on Monday, when $291.11 million exited the funds. The rest of the week saw consistent gains, with inflows of $411.50 million on Tuesday, $186.03 million on Wednesday, and $26.05 million on Thursday.

Ethereum ETFs Follow the Trend

Ethereum related ETFs also posted strong results, recording $127.49 million in net inflows and extending their positive streak to seven consecutive days. The total for the week reached $275.83 million, the highest level since mid January.

Fidelity’s FETH led Ethereum inflows with more than $84 million, followed by BlackRock’s ETHA with $30.8 million. Grayscale’s ETH fund trailed behind with $5.8 million.

XRP and Solana Funds Gain Momentum

Funds tracking XRP also reached a three month high, bringing in more than $55 million over the past week. Meanwhile, Solana based funds attracted $35.17 million, marking a two month high, although still below the $44.4 million recorded in late February before the conflict escalated.

While these inflows reflect renewed confidence across the crypto market, they were largely driven by easing geopolitical tensions. However, recent conflicting statements from US and Iranian officials regarding negotiations and the status of the Strait of Hormuz have reintroduced uncertainty.

With only a few days remaining in the ceasefire agreement, market volatility could increase again, potentially impacting demand for cryptocurrency investment products.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

A new proposal suggests that Bitcoin may not need an immediate or complete freeze in response to future quantum computing threats. Instead of acting preemptively, researchers recommend waiting for clear proof that such technology exists before restricting vulnerable coins.

BitMEX Research has introduced a canary based system designed to trigger a freeze only if quantum capable computers are proven to be active. This approach aims to prevent unnecessary disruption while still preparing for potential risks.

Debate Around BIP 361 and Quantum Freeze Concerns

The ongoing discussion surrounding BIP 361 has divided the Bitcoin community. The proposal, which was recently added to the Bitcoin repository, outlines a phased plan to handle quantum risks. It suggests restricting transactions to vulnerable addresses for three years, followed by a complete freeze after an additional two years.

Critics argue that such measures shift control away from users and weaken Bitcoin’s core principles, particularly its resistance to censorship. Others also question whether there is enough evidence to justify action now, given the uncertainty around the development of quantum computers capable of breaking current cryptographic systems.

In contrast, BitMEX Research proposes a more reactive model. Their canary system would not impose automatic restrictions after a fixed timeline. Instead, the network would enter a monitoring phase, only triggering a freeze if verifiable on chain proof of quantum activity appears.

This proof would rely on a specially designed Bitcoin address created using a Nothing Up My Sleeve number, ensuring that no one possesses its private key. If funds from this address are ever spent, it would signal the presence of a quantum computer. Until then, normal transactions could continue, potentially with added safeguards such as temporary spending limitations.

Canary Fund and Incentive Structure

To strengthen the system, the proposal introduces a canary fund. Users could voluntarily deposit Bitcoin into the special address as a bounty. The idea is to encourage anyone with a functioning quantum computer to demonstrate their capability by claiming the funds instead of targeting private wallets.

Contributors could still maintain some control over their deposits through multisignature arrangements, allowing withdrawals if needed.

However, BitMEX Research notes several risks. The bounty may not be large enough to attract the first quantum capable actor, who might instead choose to exploit other funds. There is also the possibility that a regulated or well known organization could step forward and claim the bounty in a transparent way.

Another concept under consideration is a safety window. Under this model, even after restrictions begin, transactions could still be processed but their outputs would remain temporarily locked for a set period, potentially up to 50,000 blocks, which is roughly one year.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Pi Network’s PI token led the losses over the past 24 hours, with other major decliners including M, AAVE, WLD, and PUMP.

Bitcoin’s failure to hold above $78,400 continues to weigh on the market, as the asset has now slipped toward $75,000 following renewed tensions in the Middle East conflict.

The broader altcoin market has followed Bitcoin’s lead, contributing to a wipeout of დაახლოებით $100 billion in total crypto market value since Friday’s peak.

Bitcoin Slides Toward $75K

Last weekend, Bitcoin fell from $73,600 to below $70,500 after initial peace talks between the United States and Iran broke down. However, momentum quickly shifted, and by Tuesday evening the asset surged past $76,000 amid reports of progress toward a more lasting agreement.

Bitcoin then traded within a narrow range between $73,200 and $75,500 for several days before bulls pushed prices sharply higher to $78,400 on Friday, marking a 10 week high. The rally followed news that Iran had reopened the Strait of Hormuz.

Former US President Donald Trump later expressed appreciation and made claims suggesting the US held an advantage in negotiations. Iran rejected those claims and reportedly closed the Strait again on Saturday. This triggered a market rejection and a fresh correction. Bitcoin now trades more than $3,000 below its recent peak, with further volatility likely as traditional financial markets reopen.

Bitcoin’s market capitalization has dropped toward $1.5 trillion, while its dominance over altcoins has risen to 57.5 percent.

Altcoins Turn Negative

Altcoins have largely mirrored Bitcoin’s downturn, with widespread losses across the board.

Ethereum has fallen about 3.5 percent to around $2,300. XRP has slipped below the $1.43 level, and BNB has declined to $620 after similar losses.

Other cryptocurrencies including SOL, HYPE, ADA, DOGE, LINK, CC, ZEC, and AVAX are also trading in negative territory.

AAVE recorded the steepest drop among the top 100 altcoins after the KelpDAO hack, plunging more than 20 percent to around $92. M has fallen 18 percent to $3.50, followed by declines in PUMP and WLD.

Pi Network’s native token faced rejection at $0.185 and has since dropped below $0.175 after losing more than 8 percent.

Overall, the total cryptocurrency market capitalization has declined by about $100 billion since Friday and now stands at approximately $2.62 trillion.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

This incident has become the most significant security breach of 2026 when measured by total value lost.

Several on chain security firms and independent investigators reported late Saturday that the liquid restaking protocol KelpDAO suffered a major exploit, with attackers draining close to three hundred million dollars.

The team behind the project later confirmed the breach and stated that they are working with LayerZero, Unichain, their auditors, and leading security specialists to address the situation.

Details of the Exploit

Cyvers was among the first to detect the attack and later shared a detailed breakdown of how it unfolded. According to their findings, the attacker exploited a vulnerability in the protocol’s bridge contract and extracted approximately 293.7 million dollars from its liquid restaking token known as rsETH.

After gaining control of the funds, the attacker quickly converted them into ETH and distributed them across multiple networks. Blockchain data shows that the assets were divided into two main portions, with about 178 million dollars moved on Ethereum and 72 million dollars transferred to Arbitrum.

The stolen rsETH was then deposited into lending platforms such as Aave V3, Compound V3, and Euler. Using these funds, the attacker borrowed large amounts of wrapped ETH, creating more than 236 million dollars in debt.

Cyvers explained that the exploit allowed the creation of unbacked rsETH, which was then used to borrow real assets like ETH. This mechanism enabled the attack to escalate rapidly and spread across multiple platforms.

The incident quickly evolved beyond a single protocol issue into a broader systemic problem. Assets that are widely integrated across lending platforms, vaults, and liquidity systems are particularly vulnerable in such situations, allowing the impact to spread rapidly. This resulted in bad debt, forced market freezes, and disruptions across several platforms.

In response, Aave V3 halted rsETH markets, SparkLend limited its exposure, while Fluid, Compound, Euler, and other platforms took steps to manage risk. Cyvers estimated that at least nine protocols were affected.

KelpDAO Response and Ongoing Investigation

KelpDAO confirmed the breach on its official X account, stating that it had identified suspicious cross chain activity involving rsETH. The team has since paused the affected contracts across the main network and several layer two networks while investigations continue.

Although the project is collaborating with LayerZero, Unichain, auditors, and security experts, there have been no further updates in the past several hours regarding next steps or potential outcomes for users.

This breach now stands as the largest crypto hack recorded in 2026, surpassing the previous incident involving Drift Protocol, which resulted in losses of 280 million dollars.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Hackers drained funds from Grinex wallets and routed them through SunSwap into TRX before consolidating the assets into a single TRON address.

Grinex, a sanctioned cryptocurrency exchange that catered to Russian businesses and individual users, reported a large scale cyberattack that led to the theft of more than one billion rubles from user wallets.

The platform described the breach as a highly targeted operation and suggested possible involvement of foreign intelligence agencies. According to the exchange, the technical complexity and scale of the attack pointed to resources typically associated with state backed actors.

In response to the incident, Grinex halted all operations.

Funds Movement and Investigation Details

In its official statement, the exchange confirmed that all relevant data has been shared with law enforcement authorities, and a criminal complaint has been filed where its infrastructure is based. The total losses from the attack are estimated at approximately 13.74 million USDT.

Blockchain analytics firm TRM Labs identified around seventy wallet addresses connected to the exploit, which is more than the number initially disclosed by Grinex. Their findings revealed that the stolen funds were converted into TRX using SunSwap and later gathered into a single TRON address.

The report also highlighted that TokenSpot, believed to be linked to Garantex, was impacted at roughly the same time. Two of its wallets transferred funds to the same destination address used in the Grinex incident. Both platforms reportedly went offline on April 15, suggesting they may have been targeted by the same attacker.

Grinex was established in Kyrgyzstan in December 2024, shortly before a coordinated enforcement action in March 2025 shut down Garantex, an exchange previously associated with high risk activity. After Garantex ceased operations, related Telegram channels began directing users to Grinex as an alternative platform offering similar services. These channels encouraged former users to migrate in order to regain access to funds that had been frozen.

This development prompted the United States Treasury’s Office of Foreign Assets Control to impose sanctions on Grinex, as well as individuals connected to Garantex and Old Vector, the issuer of the A7A5 token. Prior to its shutdown, Garantex had processed more than one hundred billion dollars in transactions while under sanctions since 2022.

The report also examined the role of A7A5, a ruble backed stablecoin issued by Old Vector. It found that Garantex wallets began shifting funds into A7A5 in early 2025 before enforcement actions took place. After the shutdown, former users received A7A5 balances on Grinex equivalent to their frozen holdings, allowing them to continue transactions within the new system.

Rise in Illicit Crypto Activity Linked to Russia

An earlier analysis by the same platform showed that illicit cryptocurrency inflows rose significantly in 2025, reaching around 158 billion dollars sent to suspicious wallets. This increase was largely attributed to Russia linked activity and improved tracking capabilities.

Despite this rise, such transactions still accounted for only about 1.2 percent of total on chain volume. A7A5 was identified as the largest contributor, responsible for approximately 72 billion dollars in inflows, followed by another 39 billion dollars linked to the A7 wallet cluster. Much of this activity was associated with Garantex, Grinex, and A7 related operations.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

At the same time, stablecoin issuance expanded significantly, bringing the total supply on the network to around one hundred eighty billion dollars during the quarter.

Ethereum achieved a major on chain milestone in the first quarter of 2026, driven by a sharp rise in base layer activity. According to data from Artemis, the network processed more than two hundred million transactions, marking the highest quarterly total in its history.

This represents a forty three percent increase compared to the previous quarter, which recorded one hundred forty five million transactions toward the end of 2025. Activity had previously dropped to around ninety million transactions in 2023 before stabilizing throughout much of 2024.

Key Drivers Behind the Growth

The increase in activity has been largely fueled by Layer 2 networks, which handle transactions off chain before settling them on Ethereum. Platforms such as Base and Arbitrum aggregate transactions, leading to a steady rise in recorded activity on the main network over time.

In addition, stablecoin issuance grew during the quarter, pushing the total supply on Ethereum to approximately one hundred eighty billion dollars. These assets, which are typically pegged to the US dollar, play a crucial role in supporting decentralized finance, payments, and cross border transfers within the ecosystem.

Improvements in network efficiency also contributed to this growth. The Dencun upgrade lowered data costs for Layer 2 solutions, reducing pressure on the Ethereum main network. As a result, increased usage did not lead to a proportional rise in transaction fees or higher levels of ETH being burned.

Implications for Ethereum’s Future

Despite the surge in network activity, the price of Ether remains near two thousand four hundred dollars, which is still more than fifty percent below its peak in 2025. Analysts have pointed out a widening gap between the network’s on chain performance and its market valuation.

Some observers interpret this disconnect as a delayed market response to improving fundamentals. Past market cycles suggest that sustained growth in network usage often comes before broader price recoveries in the crypto sector.

However, there are concerns that a portion of the transaction volume may be driven by automated stablecoin transfers rather than genuine user adoption. This raises questions about how much of the activity reflects real economic demand.

Looking ahead, Ethereum’s momentum will depend on whether it can maintain transaction levels above two hundred million in the second quarter of 2026, along with continued growth in stablecoin usage and Layer 2 adoption. These elements will be key in determining whether current activity levels can be sustained.

The broader issue remains whether strong on chain performance will eventually lead to a lasting increase in market value, especially as usage, scalability, and price trends continue to move in different directions.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

At the same time, XRP climbed to a multi week high before facing resistance near one dollar and fifty cents.

After several weeks marked by weak performance, days without inflows, and growing uncertainty among investors, spot ETFs tracking XRP have seen a notable resurgence over the past five trading days.

This recovery aligned with easing tensions in the Middle East, although renewed uncertainty driven by conflicting statements over the weekend could shift momentum again in the coming week.

Strongest Weekly Performance in Three Months

Reports have previously highlighted the unusual trajectory of spot XRP ETFs, which initially attracted significant attention. The first one billion dollars in inflows was reached within about a month, and during the first nine weeks there was not a single day where outflows exceeded inflows.

However, sentiment shifted in January and February and deteriorated further in March as tensions in the Middle East escalated rapidly. March became the first negative month for these funds, with more than thirty one million dollars withdrawn overall. April also started weakly, with several days showing no recorded activity and some minor outflows, reflecting a similar pattern to March.

Investor confidence began to return on April ten, when more than nine million dollars flowed into the funds. This momentum carried into the following week, which closed with total net inflows of fifty five point three nine million dollars. This marked the strongest weekly result since mid January. April fifteen stood out in particular, recording inflows of seventeen point one one million dollars, the highest daily figure in ten weeks.

As a result, cumulative net inflows have climbed to approximately one point two seven billion dollars, nearing the previous all time high of one point two eight billion.

XRP Price Rises Then Faces Resistance

XRP followed the broader market rally over the past week, gaining about seven percent since last Sunday and rising above one dollar and forty three cents. It briefly surpassed one dollar and fifty cents yesterday, reaching its highest level in three weeks after Iran announced the reopening of the Strait of Hormuz.

However, the rally lost momentum at that level and the price pulled back following conflicting statements from Iran and the United States. While President Trump suggested that discussions between the two sides were progressing well, Iranian officials denied those claims.

Although the ceasefire between the two nations is still in place for a few more days, the situation remains highly uncertain and could change quickly. Additional volatility is expected as traditional financial markets reopen and begin to react to the latest developments.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

The United States President also stated that more updates on the situation would be shared before the end of the day.

In today’s environment, verifying information has become increasingly challenging, especially when financial and political interests are involved.

This uncertainty was highlighted again in recent hours as the United States and Iran presented conflicting accounts regarding developments in their ongoing conflict.

Disagreement Over Negotiations

Friday initially brought optimism after Iran’s foreign minister announced that the Strait of Hormuz had been reopened, a move that was later acknowledged and praised by President Trump. Financial markets responded with strong gains across most sectors, with the exception of oil. Reports also began circulating about the possibility of deeper negotiations aimed at achieving a lasting resolution.

However, the positive sentiment shifted after Trump made additional claims, including stating that Iran had agreed to permanently halt its nuclear program. Iranian officials rejected these statements and denied all seven claims attributed to the US President.

Further tensions emerged as Iran imposed new restrictions on ship movement through the Strait, with reports indicating that several vessels remain unable to pass.

Trump later responded by asserting that Iran would not be able to pressure the United States through threats related to the Strait of Hormuz. He reiterated that discussions between the two sides were progressing well and emphasized a firm approach from his administration, while also promising more clarity later in the day.

In contrast, reports from Tasnim indicated that Iran has not agreed to any new round of negotiations with the United States, citing ongoing pressure, the blockade of the Strait, and what it described as unreasonable demands.

Cryptocurrency Markets Feel the Impact

These rapid developments have led to noticeable volatility in cryptocurrency markets, which operate continuously and tend to react quickly to geopolitical news. The earlier signs of easing tensions on Friday triggered a surge in prices, pushing bitcoin and several altcoins to highs not seen in months.

As uncertainty returned, prices began to pull back. Bitcoin dropped from its recent peak of seventy eight thousand four hundred dollars to below seventy six thousand earlier today.

With the situation still evolving and limited confirmation of key details, market pressure could increase quickly. While crypto markets sometimes remain relatively stable over the weekend, they often experience declines when traditional spot and futures markets reopen on Sunday evening. As a result, the coming day may remain relatively calm, but increased volatility could emerge by Sunday evening and into Monday morning.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic