Bitcoin (BTC) price news: Trump extends Iran strike pause, trimming price decline

Bitcoin prices see a temporary boost as Trump pauses military strikes against Iran, providing a slight reprieve amid ongoing sell-offs driven by retail investors.

As the cryptocurrency market grapples with turbulent fluctuations, the recent decision by former President Donald Trump to extend the pause on military strikes against Iran may have provided a brief reprieve for Bitcoin (BTC) prices, trimming the decline. But are the underlying fundamentals pointing to a bigger trend? What’s Driving the Bitcoin Sell-Off? Recent data from Glassnode indicates that the current Bitcoin sell-off is largely being driven by retail investors, particularly those with wallets holding less than 10 BTC. As Bitcoin dipped below $67,000 , these smaller holders showed aggressive distribution, leading the charge in selling. How Are Wallet Cohorts Reacting? According to Glassnode’s Accumulation Trend Score, retail wallets holding under 1 BTC are scoring a mere 0.11, while those with 1 to 10 BTC have an even lower score of 0.05 . This stark decline signals a significant level of distribution among retail holders, suggesting they are capitulating amidst current price pressures. What About the Whales? Interestingly, larger Bitcoin holders, or 'whales,' appear to be taking a neutral stance. Those holding between 1,000 to 10,000 BTC are showing minimal activity with a score around 0.5 , indicating neither strong distribution nor accumulation at this time. Conversely, entities possessing over 10,000 BTC have exhibited mild distribution but not at rates comparable to when Bitcoin was above $90,000 late last year. Are Bitcoin Miners Facing Tough Economics? Publicly listed Bitcoin miners are navigating a challenging landscape as production costs rise. In the last quarter, the average public miner reported spending $79,995 to produce one Bitcoin while the cryptocurrency trades at around $70,000. This unsustainable dynamic has prompted some miners to pivot towards artificial intelligence and high-performance computing infrastructure to stay afloat. What Impact Does This Have on BTC Prices? With retail sellers primarily offloading their BTC while larger players