- Bitcoin rebounds above $105K as Doctor Profit re-enters the market, prioritizing capital safety amid easing geopolitical tensions.
- Iran did not sell hacked Bitcoin for weapons; the stolen funds were burned, undermining misinformation and restoring market confidence.
- Bullish sentiment returns as trading volume tops $68B, fueled by reduced war fears and clarity on the politically motivated Iran hack.
Bitcoin is rebounding after recent geopolitical tensions subsided. Doctor Profit, a popular market analyst, confirmed he repurchased Bitcoin at a 2% discount. He had previously sold at $106,709 to protect capital during the peak of market uncertainty. He emphasized that protecting capital in wartime was the core of his strategy. Now that the risk has passed, he sees no reason to remain bearish. Despite buying back at a similar level, he maintains that capital safety is a win.The reaffirmed this strategy for any future crises, stressing the importance of capital preservation over price perfection.
Cyberattack Fallout Sparks Misinformation
Meanwhile, a controversial claim by Mike Alfred stirred fresh concerns. Alfred alleged Iran sold stolen Bitcoin to fund missile purchases. He stated that he would not buy Bitcoin until Iran finishes selling. Additionally, he estimated Iran would offload its holdings within 48 to 72 hours.
However, the facts challenge this narrative. On June 18, 2025, Iranian crypto exchange Nobitex suffered a $90 million hack. The breach affected Bitcoin, Ethereum, Dogecoin, and other altcoins. The group behind the attack, Predatory Sparrow, is believed to be linked to Israel. They openly mocked Iranian authorities by inserting anti-IRGC messages into their transaction addresses.
Stolen Crypto Burned, Not Sold
Crucially, the stolen funds were not used or sold. Instead, the attackers moved them to burner wallets. These addresses had no private keys, making the funds permanently inaccessible. Hence, the action destroyed the assets, rendering them unrecoverable. This act severely damaged Iran’s digital infrastructure. Moreover, it debunked the theory that Iran gained funds to buy weapons.
Consequently, Alfred’s claim lacks foundation. The hack appeared politically motivated, not economically driven. Besides, it served more to cripple than to empower Iran’s crypto capabilities. This clarifies that Iran did not benefit from the stolen Bitcoin.
Market Outlook Turns Bullish
The market has now shifted focus. With war fears fading, bullish sentiment is returning. Bitcoin is currently trading at $105,028, gaining 3.11% in the last 24 hours. Additionally, trading volume stands above $68 billion, reflecting renewed investor activity. Hence, the reduction in geopolitical risk and clarification around the Iran hack is fueling fresh momentum.
