Bitcoin Stuck Below Key Level as Phantom Axes Sui Support

The crypto markets are currently holding on to their recent gains despite high leverage and rising geopolitical tension. This has caused prices to remain choppy, leaving investors on edge.

Phantom, a popular wallet service provider, is ending its support for Sui, citing reasons that have not been disclosed. This move may impact users who rely heavily on Phantom's services.

The US government is tightening financial pressure on Iran, which could potentially affect the global cryptocurrency market. The sanctions imposed by the US are likely to lead to increased volatility in the markets.

Bitcoin is currently trading below an important technical level known as its 50-week average. This level serves as a key indicator for determining whether the recent rally will continue or not.