Geopolitics

Although the U.S. and Iran have announced a temporary ceasefire, the Strait of Hormuz remains obstructed for passage. Iran requires oil tankers to pay a one-dollar toll per barrel and to do so in bitcoin. This move challenges the traditional “petrodollar” system, aims to reduce the risk of sanctions, and may accelerate the global process of de-dollarization in trade.

Glassnode reports that although the Bitcoin price rebounded to $72k due to a U.S.-Iran ceasefire, the market structure is still in a bear market. In the short term, the downside may be limited, but the $78k level faces pressure overhead. ETF capital inflows have ticked up slightly, but they have not yet fully returned; trading activity in derivatives remains sluggish, indicating insufficient market confidence. Going forward, we need to monitor changes in the futures trading and options markets.

Iran plans to charge ships passing through the Strait of Hormuz a $1 per barrel Bitcoin toll, an action that is seen as a challenge to the “petrodollar” system. Trump says he is considering a joint venture with Iran to set up a fee collection mechanism, showing new developments and a power struggle between the U.S. and Iran on this issue. Even if there is a desire for a ceasefire, renewed passage through the Strait of Hormuz will still be subject to Iran’s strict control.

Bitcoin has recently been trading below $72,000 and faces risks from the failure of the U.S.-Iran ceasefire talks and the Strait of Hormuz closing again, which has weighed on market sentiment. At the same time, Federal Reserve meeting minutes show that the likelihood of further rate hikes is rising, further affecting the valuation of risk assets. Bitcoin’s key resistance level is $75,000 and its support level is $68,000; the market is currently waiting for a clear direction confirmation signal.

The United States and Iran reached a two-week ceasefire agreement, and global financial markets turned optimistic, with the S&P 500 rising 2.51%. U.S. crude oil prices fell to below $95 per barrel, easing concerns about an energy crisis. Bitcoin at one point rose 5% to $72,841, hitting a three-week high. Expectations that the Federal Reserve will cut interest rates have also increased.

U.S. Representative Richie Torres calls on the Securities and Exchange Commission to investigate allegedly abnormal trading activity in the markets before Donald Trump delayed a military strike, saying the trading activity looks suspicious and that a formal investigation of the relevant trading records is needed.

Gate News message. On April 8, according to Iran’s SNN news agency, the Iranian Ports and Maritime Organization said on April 9 that it has designated safe transit lanes through the Strait of Hormuz, and that ships must use these lanes in coordination with Iran’s Islamic Revolutionary Guard Corps. The organization noted that safe entry into the lanes is航located for vessels navigating from the Oman Sea toward the north side of Larak Island, while the safe lanes departing from the Gulf require entering the Oman Sea via the south side of Larak Island.

The Speaker of Iran’s parliament announced that the key provisions in the proposal at 10 o’clock had already been violated before negotiations, including the failure to honor a ceasefire commitment, the destruction of drones that violated airspace, and the denial of Iran’s right to enrich uranium. He said that it is unreasonable to hold negotiations in such circumstances.

Global markets moved unevenly as geopolitical tensions intensified and energy prices climbed sharply. Oil prices surged above key levels while Bitcoin maintained stability despite pressure. Meanwhile, equities fluctuated as traders reacted to escalating rhetoric and uncertain diplomatic outcomes. O

White House press secretary Leavitt said that Iran’s initial package of 10 proposals has been abandoned, but that the new proposal could serve as the basis for U.S.-Iran negotiations. Trump emphasized that stopping uranium enrichment activities is a red line and rejected a “wish list” style agreement.

Timor-Leste’s “crypto cryptocurrency resort” plan is reportedly related to a scam network run by the Cambodian royal family group that has been sanctioned by the United States; on-the-ground investigations found the site to be empty land. The royal family group is accused of carrying out large-scale online fraud, with victims worldwide. The investigation has raised concerns within the Timor-Leste government, which said the country faces the risk of transnational crime.

Gate News message: On April 8, the Israeli Prime Minister’s Office said that Netanyahu will deliver a statement to the media today at 01:15 (Beijing time early April 9) with no Q&A session.

Gate News message. On April 8, the Qatari Ministry of Defense announced that today, local time, Qatar was attacked by seven ballistic missiles and multiple drones from Iran. The Qatari Ministry of Defense also stated that its air defense systems successfully intercepted all incoming missiles and drones.

Gate News message. On April 8, according to AXIOS, a U.S. official said that the attack on an Iranian refinery earlier today was not carried out by the United States or Israel.

Pakistan helped broker a two-week ceasefire agreement between the U.S. and Iran, easing market tensions, leading Bitcoin’s price to break above $72,000 and triggering liquidations of approximately $600 million in cryptocurrency futures. Oil prices plunged 13%, and traditional financial markets also rebounded on expectations of peace. Although the market has risen temporarily, it still needs to watch the progress of negotiations over the next two weeks, because the core issues have not been resolved and future volatility risk remains.

Iran’s armed forces announced in a statement that they have achieved victory after 40 days of resistance warfare, saying they are already prepared to deal with a broader war. They also said they struck multiple targets belonging to U.S. forces and Israel, causing major losses, and ultimately forcing the U.S. and Israel to accept ceasefire terms.

Iran’s Bitcoin mining industry has taken a sharp hit. New data shows the country’s hashrate has dropped by 77% in just one quarter. Reports suggest Iran has lost around 7 exahashes per second. Its total hashrate now sits near 2 EH/s. Compared to past levels, when the nation had built a robust mining

Gate News message: April 8, according to the New York Post, U.S. President Trump said he will soon begin peace talks in Pakistan. Trump said his son-in-law Kushner and special envoy Wittekoff will travel to take part in the talks, and Vice President Vance may also accompany them.

Gate News update: On April 8, Iran’s media Fars News, citing officials, reported that Iran is considering launching an attack on Israel because Israel violated the temporary ceasefire agreement in Lebanon.

On-chain detective ZachXBT revealed that an anonymous source shared stolen data from North Korea’s internal payment servers, involving 390 accounts and encrypted transaction information. More than $3.5 million in funds vanished, and it is connected to a sanctioned company. ZachXBT has compiled a detailed organizational chart.