Bitcoin (CRYPTO: BTC) slipped below $71,000 on Monday after President Trump ordered the U.S. to join Iran in blockading the Strait of Hormuz.

The Profit-Taking Pressure

Blockchain analytics firm Glassnode reports that traders are selling more than $20 million worth of Bitcoin per hour to lock in profits.

The message is clear: the $70,000 to $80,000 band is less a battleground of conviction and more a persistent distribution zone, as traders have treated it since February.

The Trump Blockade

Crypto prices came under further pressure during U.S. morning hours on Sunday after President Trump announced a blockade of the Strait of Hormuz.

“Effective immediately, the United States Navy will begin…

Read more on Benzinga

Bitcoin dropped to $70,000 after briefly touching $73,000 over the weekend, as renewed geopolitical tensions weighed on market sentiment; liquidations stand at $184.36 million over the past 24 hours.    

Bitcoin ETFs saw $256.8 million in net inflows on Friday, while Ethereum ETFs reported $64.95 million in net inflows.  

Meme coin market capitalization is down 1.4% over the past 24 hours at $34.3 billion

Trader Commentary:   

Trader CyrilXBT explained Bitcoin remains range-bound between $68,000–$76,000, with the uptrend still intact but lacking momentum below the 200 EMA. A confirmed breakout above signals strength, while a drop below would break the structure and shift the trend.

Benzinga

A trader opened a high-risk short bet on Ethereum (CRYPTO: ETH) late Sunday, with liquidation looming just a hair’s breadth away.

Daring Bet Or Something More?

The trader opened a 25x leveraged short position on ETH on the decentralized perpetual trading platform Hyperliquid at an entry price of $2,209.38, reported Lookonchain.

As of this writing, the position stands at 40,000 ETH, equivalent to $109.9 million, with an unrealized profit of $188,503. Should ETH increase to $2,218, which is a mere $9 away from the current price, the entire position will be wiped out.

The perp trader endured a roller-coaster last week, watching their account balance fall from a peak of $1.23 million to…

Read more on Benzinga

Despite peace talks falling apart this weekend, cryptocurrency punters don’t see high chances of the two-week U.S.–Iran ceasefire ending just yet.

Will The Ceasefire Extend?

The likelihood of the ceasefire ending by April 18, before the full two-week duration, was estimated at 30%.

More than $2 million has been wagered on the outcome, and the market will resolve to “Yes” if Trump, the federal government, or the U.S. military officially announces that the ceasefire is no longer in effect.

Notably, the odds of the military operation in Iran concluding by the end of this month dropped to 24%, down from 12% the previous day.

A Fragile Ceasefire?

Earlier, Vice President JD Vance, who led the…

Read more on Benzinga

Tron (CRYPTO: TRX) founder Justin Sun alleged on Sunday an ongoing “token scandal” at the Trump family-backed World Liberty Financial (WLFI) platform, which enables unilateral freezing of user assets.

Sun Alleges Major Misconduct At WLFI

Sun claimed on X that the company has embedded a “backdoor blacklisting function” in its smart contract.

“This function gives the Company unilateral power to freeze, restrict, and effectively confiscate the property rights of any token holder, without notice, without cause, and without recourse,” the cryptocurrency billionaire added.

As a major early investor whose wallet was blacklisted last year, Sun called himself the “first and single…

Read more on Benzinga

Leading cryptocurrencies slid alongside stock futures on Sunday evening after the peace talks between the U.S. and Iran collapsed.

Crypto Market Bleeds

Bitcoin slid below $71,000, accompanied by a 33% jump in 24-hour trading volume. Ethereum also encountered selling pressure, sliding below $2,200, while XRP and Dogecoin traded in the red.

Over $280 million was liquidated in the past 24 hours, predominantly bullish long positions,  according to Coinglass data.

Open interest in Bitcoin futures fell 5.76% in the last 24 hours. However, retail and whale derivatives traders on Binance continued to be long BTC as of this writing.

“Extreme Fear” sentiment dominated the market, according to the…

Read more on Benzinga

CZ Stress On Having Real Purpose In Life

In October 2022, CZ shared a set of “principles” he follows, including one about owning one’s work.

“The right mentality is a prerequisite to success in life. Be responsible and be proud of what you do,” he stated.

CZ warned against grinding on tasks without a real purpose. He drew on the classic tale about walls and cathedrals to make his point.

“Don’t just lay bricks on a wall. Be the guy building the cathedral. If you don’t think you are ‘building a cathedral,’ you should look for a different job,” the former Binance CEO said.

CZ stated that one must always think about what else can they do to improve things beyond what others have…

Read more on Benzinga

This week was a whirlwind of activity in the cryptocurrency world. From Anthony Pompliano’s bullish stance on Bitcoin to the potential revelation of Satoshi Nakamoto’s identity, there was no shortage of intriguing developments.

Let’s dive into the top stories that shaped the crypto landscape over the weekend.

Bitcoin’s ‘True Product-Market Fit’

Read the full article here.

Satoshi Nakamoto’s Identity Revealed?

A recent report has drawn parallels between the early work in cryptography of a certain individual and the writings of Bitcoin’s elusive creator, Satoshi Nakamoto. The report also noted that this individual’s online activity coincides with the period when Nakamoto was…

Read more on Benzinga

In the post, he wrote that he held the same single bitcoin before a rally and through a bear stretch, but experienced completely different reactions as the price moved. He added that the asset didn’t change while the market price did, ending the message with a confident line about momentum continuing.

Scaramucci has also described bear markets as marathons that end when participants run out of stamina, not when fear finally fades. In that framing, he has argued the bleakest sentiment often shows investors are positioned too lightly for a reversal.

Why Bitcoin’s Price Volatility Matters Now

That emotional gap between ownership and price is a key part of the bitcoin experience, especially…

Read more on Benzinga