Iran Tanker Attacks Push Oil Higher and Bitcoin Lower | CoinDesk Daily

Stepped-up Iranian attacks on tankers in the Strait of Hormuz pushed oil higher as Bitcoin declined from near $86,600 on Tuesday to just above $84,000 early Wednesday. The market moves put geopolitical risk and crypto price weakness at the center of the episode.

FXPro said a break below $83,000 would signal that sellers were in control and could open a quick path to $80,000. That outlook was conditional: Bitcoin was still above the cited threshold early Wednesday, so the stated downside path depended on a further fall.

Abstract, the Layer 2 network backed by Pudgy Penguins’ parent company Igloo, will shut down on December 15 after tens of millions of dollars were spent funding it. It is the second Ethereum-linked chain to announce a shutdown in less than a week, following Blast. Igloo CEO Lukanetz said the company could have launched a token or pursued an ICO, but chose not to take more from the Pudgy Penguins business.

The U.S. government moved more than $100 million in crypto on Tuesday, including about 834 Bitcoin worth $71.6 million sent to Coinbase Prime deposit addresses and a separate $31.63 million transfer in BNB, according to Arkham. Such transfers can prompt fears of a sale, but a March executive order says forfeited Bitcoin is intended to be held in a strategic Bitcoin reserve. The government still holds about $27.5 billion in crypto.