There are circulating notions on social media suggesting that the recent decline in Bitcoin prices is primarily driven by developments in Iran rather than the sale of Michael Saylor's assets.
Last week, Treasury Secretary Scott Bessent revealed that over $1 billion in Iranian cryptocurrency holdings (excluding Bitcoin) had been frozen.
Additionally, the U.S. imposed sanctions on Nobitex, the largest cryptocurrency exchange in Iran, for allegedly assisting the Iranian government and other entities in bypassing sanctions through digital assets.
"In my view, any cryptocurrencies that may be associated with Iran or the Islamic Revolutionary Guard Corps (IRGC) have likely been sold off to evade potential sanctions (i.e., compromised coins), acquire weapons, resources, etc.," stated Alistair Milne on X.
"Certainly, it wasn't solely Iran that was offloading assets, but this context sheds light on the persistent selling pressure, particularly affecting Bitcoin, even at key support levels," he added.