Crypto
Iran Shifts to Bitcoin Amid US Sanctions
Iran has quietly eased its currency controls and shifted to using Bitcoin (BTC) and Tether to maintain trade flows despite US sanctions. This move echoes the country's long-standing history of using cryptocurrency to bypass sanctions.
The development is significant as it could potentially alter price prediction models for BTC, which currently sits at $79,532.59. According to technical analysis, the upper band of its Bollinger Bands at $80,307.94 caps near-term moves, while the 50-EMA at $78,993.53 anchors support.
The RSI is neutral with a value of 54.62, leaving room for continuation, and the MACD golden cross reinforces the bullish structure above the 200-EMA at $74,009.44.