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Strait of Hormuz Open During U.S.-Iran Ceasefire as Naval Blockade Holds Pending Final Deal

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

TLDR:

  • Iran’s foreign minister confirmed the Strait of Hormuz is open to all commercial vessels during the ceasefire period.
  • President Trump stated the U.S. naval blockade will remain active until a deal with Iran is fully and completely finalized.
  • The Trump administration is weighing the unfreezing of $20 billion in Iranian assets as part of ongoing nuclear negotiations.
  • A 10-day Lebanon ceasefire between Israel and Hezbollah is holding, easing a key sticking point in the broader Iran talks.

The Strait of Hormuz is currently open to all commercial shipping vessels following a ceasefire between the United States and Iran.

Iran’s foreign minister confirmed the vital trade route would remain accessible during the truce period. However, President Donald Trump stated that the U.S. naval blockade will stay active. A broader agreement must be fully completed before any military presence is withdrawn from the region.

Iran Commits to Keeping the Strait of Hormuz Open

Iran’s foreign minister officially announced that the Strait of Hormuz would be open to commercial vessels. The waterway handles a substantial portion of the world’s oil trade and remains critical to global markets. This announcement came alongside a ceasefire agreement reached between Tehran and Washington.

Despite the announcement, Iranian state media introduced some uncertainty around the commitment. Shipping companies are also expressing caution and have not fully resumed normal operations through the strait. Industry players are waiting for clearer guarantees before adjusting their routes or schedules.

President Trump publicly confirmed Iran’s pledge, stating that Tehran has committed not to close the waterway. However, he made clear that U.S. naval forces would not stand down just yet. Trump said the blockade would remain until a deal with Iran is “100% complete.”

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The situation reflects a delicate balance between military posture and diplomatic progress. Both sides appear committed to keeping talks moving forward while maintaining their respective positions. Commercial shipping remains cautious but operational through the strait at this stage.

Nuclear Deal Talks and Broader Conflict Resolution Progress

Peace negotiations between the U.S. and Iran are actively ongoing, with Trump expressing confidence in a near-term resolution.

He told reporters a deal could be reached “in the next day or two.” Talks are also expected to continue through the weekend, according to the president.

One notable development involves a proposal to unfreeze approximately $20 billion in Iranian assets. This measure is being considered as part of broader incentives to bring Iran to a final agreement. Sources familiar with the discussions confirmed this option is currently on the table.

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Trump also stated that the United States intends to acquire Iran’s enriched uranium stockpile as part of any deal. He said the U.S. “will acquire Iran’s enriched uranium” under the terms being negotiated. The exact conditions surrounding uranium transfers remain a point of active discussion.

Separately, a 10-day ceasefire in Lebanon appears to be holding steadily. The conflict between Israel and Hezbollah has been described as a “key sticking point” in the broader Iran negotiations. Stability in Lebanon could support momentum toward a wider regional agreement in the coming days.

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Benjamin Cowen Reveals Why The Altcoin Season Never Came

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Benjamin Cowen Reveals Why The Altcoin Season Never Came

For most of 2025, altcoin holders were waiting. Watching Bitcoin climb to a new all-time high near $126,000, they expected what had always followed — the familiar rotation, the altcoin surge, the season that rewards patience with explosive gains. It never came.

Benjamin Cowen, founder of IntoTheCryptoverse, wasn’t surprised. He had a name for what was happening, and it changed everything.

“This is a cycle where Bitcoin topped on apathy rather than euphoria.”

That single phrase explains more about the 2025 cycle than any price target or on-chain metric. And to understand why, you need to follow the data across four charts — from social sentiment, through market structure, all the way to the deepest layers of the global macro economy.


The Top That Looked Normal, But Wasn’t

Bitcoin did exactly what it always does. It peaked in Q4 of the post-halving year, right on schedule, consistent with every prior four-year cycle. On the surface, nothing was broken. Look closer, however, and something was fundamentally different.

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Cowen’s Social Metrics Historical Risk chart tells the story visually. The chart color-codes Bitcoin’s price history by the level of social engagement at each point in time — warm colors (red, orange) for high engagement, cool colors (blue) for low.

In 2017 and 2021, Bitcoin topped in a blaze of red and orange. Social interest was at peak levels. Retail was flooding in. Everyone was talking about crypto.

Social Metrics Historical Risk chart / Source: YouTube

In 2025, Bitcoin printed its all-time high in cold blue. Social engagement was near-historic lows at the exact moment the market reached its peak.

No retail frenzy or mainstream headlines are driving fresh money in. Just a quiet, almost invisible top — what Benjamin Cowen defines as apathy.

“In 2017 and 2021 we topped on euphoria and because we topped on euphoria there was a rotation into the higher risk assets — altcoins. But when you top on apathy you don’t get that same rotation.”

The only other time this happened was in 2019. That observation is where everything begins.

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Benjamin Cowen: Why Apathy Kills the Altcoin Season

In a euphoric cycle, the sequence is predictable. Bitcoin tops, early investors take profits, and that capital rotates into higher-risk assets — altcoins. The crowd, still buzzing with excitement, chases the next opportunity. Alt season follows almost mechanically.

Apathy breaks that sequence entirely. When Bitcoin tops on indifference rather than excitement, there is no crowd waiting to rotate.

The retail wave that normally fuels altcoin rallies simply never arrived. And without new buyers entering the market, altcoins have nowhere to go but down.

Cowen puts it with characteristic bluntness:

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“But when you top on apathy, like in 2019, you don’t get that rotation. And the reason you don’t get that rotation is that there’s just no one left to sell the altcoins to.”

The consequence is visible in the altcoin total market cap chart. Rather than the sharp post-Bitcoin rotation that altcoin holders were expecting, the chart shows something more painful — a slow, relentless bleed. Altcoins losing ground to Bitcoin not just in the bear market, but throughout the entire cycle, both during the bull run and after it ended.

TOTAL3 vs Bitcoin Dominance Chart. Source: YouTube

This is not a coincidence or bad luck. It is a direct consequence of the macro environment in which this cycle occurred.


The Macro Context: 2019 and 2025 Show the Same Story

Most crypto analysts treat Bitcoin as its own ecosystem, governed purely by halving cycles and on-chain mechanics. Benjamin Cowen argues that it is only half the picture.

The global business cycle — the broader rhythm of economic expansion, late-cycle stress, and recession — shapes not when Bitcoin tops, but how investors behave when it does.

His Business Cycles chart, built by normalizing a composite of S&P 500 performance, unemployment, interest rates, inflation, and M2 money supply, makes the argument visually.

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From Bitcoin’s earliest days through approximately 2019, the macro environment was in an early business cycle phase — the long recovery following the 2008 financial crisis. Risk appetite was structurally high. Investors were willing to climb the risk ladder, moving from equities to Bitcoin to altcoins.

Business Cycles M2-Normalized chart / Source: YouTube

In a late business cycle environment, that risk appetite reverses. Investors don’t reach for more risk — they pull back from it. They consolidate into quality. In crypto terms, that means Bitcoin, not altcoins. It explains why, in both 2019 and 2025, altcoins bled to Bitcoin even as Bitcoin itself was still rising. The macro environment was actively working against the rotation altcoin holders had been counting on.

“The reason why this cycle feels different is because this is a late business cycle environment. And the only other time we had a late business cycle environment where altcoins bled out to Bitcoin even after Bitcoin topped without a rotation was actually in that 2019 phase.”

The Liquidity Risk chart adds a second layer of confirmation. With liquidity risk currently sitting at 0.789 — firmly in the “Very Tight” zone — the conditions mirror those of the 2008 financial crisis and the 2018-2019 period almost precisely. Tight liquidity environments are not environments where investors chase speculative assets. They are environments where capital retreats to safety.

Liquidity Risk chart / Source: YouTube

The symmetry between 2019 and 2025 goes deeper still. In 2019, Bitcoin topped in June — two months before quantitative tightening ended in August. In 2025, Bitcoin topped in October — two months before quantitative tightening ended in December. Same pattern, same spacing, larger scale.

“What’s happening now is just a larger version of what happened in 2019. It just happens to all line up.”


What Comes Next for Benjamin Cowen

The 2019 parallel is not a perfect map, but it is the most honest one available. The four-year cycle remains intact — Bitcoin tops when it always tops, and it will bottom when it historically bottoms, approximately one year after the peak. That places the base case for a cycle low in October 2026.

What this cycle has revealed, more clearly than any before it, is that the crypto market does not exist in isolation. The business cycle, liquidity conditions, and investor risk appetite are not background noise — they are the environment in which every crypto decision plays out. In an early cycle, rising risk appetite carries altcoins higher.

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In a late cycle, retreating risk appetite leaves them behind.

Benjamin Cowen’s thesis is not a bearish call for its own sake. It is a framework for understanding why this cycle felt different — and why, for those who understood the macro context, it was never really a surprise.

The altcoin season didn’t fail. It was never going to arrive. Not in this environment. Not in this cycle.

The post Benjamin Cowen Reveals Why The Altcoin Season Never Came appeared first on BeInCrypto.

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Telegram CEO Warns EU Age Verification App Risks Surveillance

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Telegram CEO Warns EU Age Verification App Risks Surveillance

Telegram CEO Pavel Durov warned Friday that the European Union’s new age-verification app could become a stepping stone toward broader online identity tracking, days after the European Commission said the system was technically ready for rollout.

In a Telegram post on Friday, Durov cited analysis from security consultant Paul Moore, who said the app is hackable in “under two minutes” after examining its technical design.

“This product will be the catalyst for an enormous breach at some point,” Moore said in an X post on Thursday, adding that the system could be tricked so the age check isn’t properly tied to the actual user or their device.

Durov argued that the security concerns went beyond age checks and could, over time, be used to justify broader identity verification across online services in Europe.

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The criticism reflects a wider debate over how age verification is being built into online platforms, as regulators in multiple regions push similar systems, raising concerns over security and digital identity infrastructure.

System promoted as being “completely anonymous”

The European Commission released the first version of its age-verification blueprint in July 2025, with the aim of letting users prove they are over 18 without disclosing other personal information.

The age verification framework was developed as an open-source project designed to preserve privacy and support future interoperability with European Digital Identity Wallets.

Source: Ursula von der Leyen

In a statement on Tuesday, EC President Ursula von der Leyen said the EU’s age verification app is “technically ready,” describing the tool as “completely anonymous” and claiming users can prove their age without revealing personal data or being tracked.

However, after researchers said the system can be bypassed in minutes, it’s unclear whether its privacy and security promises will hold up in real use.

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Related: Signal push notifications could present privacy vulnerability, says Durov

According to Durov, the app is “hackable by design,” suggesting it was built in a way that makes it easy to break in practice, which he argues could later be used to justify stronger identity checks.

Source: Pavel Durov

“The EU bureaucrats needed an excuse to silently start turning their ‘privacy-respecting’ age verification app into a surveillance mechanism over all Europeans using social media,” the Telegram CEO said.

Durov has emerged as a major advocate of free speech and digital privacy. He remains under judicial investigation in France over allegations tied to illegal activity facilitated through Telegram, including organized crime, fraud and the platform’s alleged failure to cooperate with authorities.

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

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