Bitcoin suffers $110 billion wipeout as Iran tensions eclipse bullish news

Bitcoin briefly pushed toward $74,000 this week after a string of bullish developments linking the crypto market more closely with traditional finance, but by week’s end it had slipped back below $69,000, shedding about $110 billion in market value and failing to hold $70,000.

Recent institutional moves included Morgan Stanley naming Bank of New York Mellon as a custodian for its spot bitcoin ETF exposure, Kraken gaining access to the Federal Reserve’s payment system, Intercontinental Exchange investing in OKX at a $25 billion valuation, and U.S.

President Donald Trump urging traditional banks to find a workable relationship with the crypto industry. The pullback was driven largely by a stronger U.S.

United States

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