Phantom Drops Sui Support Amid US-Iran Tensions and Bitcoin's Unresolved Rally

The crypto market is experiencing some turbulence, with prices remaining choppy due to high leverage and rising geopolitical tensions.

Phantom, a popular wallet, has announced that it will stop supporting the Sui network on September 24, 2026. Users will not lose their funds but need to move their Sui assets to another compatible wallet or swap them for supported assets by Phantom before the deadline.

The US Treasury Secretary Scott Bessent has launched an aggressive financial campaign against Iran, targeting the country's economic lifelines and warning nations that continue doing business with Tehran that they could face isolation. This move is causing concern in the crypto market about potential impacts on oil prices, inflation, and global risk sentiment.

Bitcoin's recent rally has been strong, but analyst VirtualBacon argues that the trend has not been fully confirmed yet. He points to Bitcoin's 50-week average of $81,822 as a crucial level that needs to be reclaimed on a weekly closing basis before calling the broader trend decisively bullish.