Strait of Hormuz Closed, Crypto Falls Hard!

After the US airstrike, Iran closed the Strait of Hormuz, through which about 20% of the world’s oil volume passes, as a reaction to the US airstrike, there is an air of panic in crypto. Bitcoin, which fell after the US airstrike at night, fell below the psychological support of $ 100,000 with the news of the closure of the Strait of Hormuz. In addition, Ethereum fell below the levels of $2,200, XRP $2, Solana $130. After this decline, it is estimated that more than $ 1 billion of liquidity has been experienced in the cryptocurrency markets in the last 24 hours.

According to statements made by the US side, they stated that the ultimate goal of the US is not a change of administration or regime change in Iran, but that their only problem is Iran’s nuclear programs.

On the other hand, US Secretary of State Rubio said: “I encourage China to communicate with Iran on the Strait of Hormuz issue. In another statement, Rubio said: “There are no military operations planned against Iran at this time.

Crypto Market is Blood Red!

Thoughts that the fuses of the 3rd world war are being ignited globally and that the war may start at any moment put the markets in an uneasy situation. The harsh reaction of cryptocurrencies in many previous crises is under pressure due to the new and expected crises in the coming period. We can see that Bitcoin, a digital currency, tends to decline during periods of war cries.

Instantly, the cryptocurrency market market cap levels have dropped from 3.4 trillion dollars to 3 trillion dollars. From the day the Iran-Israel war started until today, we see a market cap decline of approximately $ 400 million in the market. In addition, with a 32% increase in trading volume in the last 24 hours, the 24-hour trading volume was $ 132.27 billion. The CMC Fear and Greed Index was measured at 40%.

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*DOES NOT CONTAIN INVESTMENT ADVICE*

The post Bitcoin Slows Below $100,000 | Breaking News appeared first on Coin Engineer.

According to breaking news, MicroStrategy has purchased approximately 51,780 Bitcoin for around $4.6 billion in cash. The acquisition took place between November 11 and November 17, as announced by the company.

MicroStrategy paid an average price of $88,627 per Bitcoin for this purchase.

In a statement, Michael Saylor, the founder of MicroStrategy, said:

“As of November 17, 2024, we hold approximately 331,200 BTC acquired for $16.5 billion at an average price of $49,874 per Bitcoin.”

The Bitcoin purchases were financed using proceeds from stock issuance and sales under an ATM (at-the-market) program. So far, MicroStrategy has used $5.7 billion of its $21 billion ATM program, leaving $15.3 billion available. At this pace, the company could exhaust its ATM program by year-end.

Key Figures:

– Total BTC Holdings: 331,200 BTC (representing 1.58% of the total Bitcoin supply).

– BTC Return (October 1 – November 17): 20.4%.

– Year-to-Date BTC Return: 41.8%.

This massive purchase underscores MicroStrategy’s continued bullish stance on Bitcoin and its strategy to leverage cryptocurrency as a key corporate asset.

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The post BREAKING NEWS | MicroStrategy Purchases Bitcoin! appeared first on Coin Engineer.