Key Takeaways

• Bitcoin retreats: The world’s largest crypto fell 1.7% to $79,679.8 on the Hormuz escalation.
• Six straight weekly gains: Despite Friday’s drop, Bitcoin is still up 1.3% on the week — its sixth consecutive weekly advance.
• Institutional support: Strong institutional buying, bargain demand, and progress on a key U.S. regulatory bill have fueled the rally.
• Strategy weighs sales: Top corporate holder Strategy Inc. said it may sell some Bitcoin to pay dividends, with timing and scope unclear.
• Hormuz clash: The U.S. military struck back against Iran after attacks on three American warships transiting the strait.
• Iran retaliates politically: Tehran accused Washington of violating the ceasefire by attacking Iranian vessels and civilian areas.
• Project Freedom controversy: Trump’s bid to restore commercial Hormuz traffic was paused days after launch, with Iran moving to formalize its control of the waterway.
• Peace talks at risk: The military escalation overshadowed earlier optimism from both sides about progress in negotiations.
• Binance under Treasury scrutiny: The exchange received a letter demanding compliance with a 2023 monitoring program after reports of $1 billion in crypto flowing to Iran-linked entities.
• BNB drops: Binance’s native token fell 1.7% Friday on the news.
• Altcoins decline: Ether fell 2.6% to $2,275.58, XRP slid 2.3% to $1.3825, while Solana and Cardano dropped 1.2% and 2.2% respectively.
• Memecoins mixed: Dogecoin tumbled 4.9%, while $TRUMP defied the trend with a 0.9% gain.

Bitcoin fell on Friday as a military escalation between the United States and Iran in the Strait of Hormuz dented appetite for risk-driven assets, with broader cryptocurrency prices also trending lower.

Yet the world’s largest crypto was still on track for a sixth consecutive week of gains, supported by strong institutional buying, bargain hunting, and as U.S. lawmakers marked progress toward passing a key regulatory bill.

Bitcoin fell 1.7% to $79,679.8 by 01:52 ET (05:52 GMT), still trading up 1.3% for the week — its sixth straight weekly advance.

The crypto was also pressured by top corporate holder Strategy Inc. stating that it could sell some of its holdings to fund dividend payments, although the scope and timing of any potential sales remained unclear.

U.S.-Iran Escalation Pressures Risk Assets

Risk-driven markets retreated on Friday after the U.S. military said it had struck back against Iran over attacks on three American warships transiting the Strait of Hormuz.

This came after Iran earlier accused the United States of violating their ceasefire by attacking Iranian vessels and civilian areas this week.

The latest round of hostilities was triggered by the U.S. launching an operation aimed at restoring commercial traffic in Hormuz, although President Donald Trump claimed to have paused the operation just days after its launch.

Iran had largely denounced the operation and was seen seeking to formalize its control over Hormuz.

Thursday’s military escalation largely overshadowed comments from both Washington and Tehran that negotiations were progressing well. Reports earlier this week also indicated a deal was close.

Binance Faces U.S. Treasury Scrutiny Over Sanctions Violations — Report

Binance, the world’s largest crypto exchange, received a letter from the U.S. Treasury demanding that the company adhere to a monitoring program amid reports that $1 billion worth of crypto passed through the exchange to Iran-linked entities, The Information reported on Thursday.

The Treasury demanded that Binance comply with the so-called monitoring program it had previously agreed to in 2023 after pleading guilty to charges related to sanctions and anti-money-laundering violations.

The letter was linked to reports that more than $1 billion flowed through the exchange to Iran-linked groups in 2024 and 2025.

BNB — Binance’s native crypto — fell 1.7% on Friday.

Crypto Price Today: Altcoins Fall as Iran Tensions Weigh

Broader crypto prices fell in tandem with Bitcoin on Friday as tensions over Iran weighed on risk appetite. Most altcoins were also poised for a muted week overall.

Ether, the world’s second-largest cryptocurrency, fell 2.6% to $2,275.58, while XRP slid 2.3% to $1.3825.

Solana and Cardano dropped 1.2% and 2.2%, respectively.

Among memecoins, Dogecoin fell 4.9%, while $TRUMP rose 0.9%.