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Reports of Jerome Powell stepping down from his role as Fed Chair have reached a fever pitch after a resignation letter emerged on the internet. While the letter appears legitimate, a closer look reveals that it is fake as calls for Powell’s resignation grow louder. Letter Of Jerome Powell’s Resignation Turns Out Fake Amid the
The post Fact Check: Did Jerome Powell Resign As Fed Chair? appeared first on CoinGape.
Although the Metaplanet stock price is facing strong selling pressure, Benchmark Equity Research has initiated a buy call with a target of 2,400 JPY, 50% up from the current levels. This comes amid the Japanese firm’s Bitcoin acquisition spree, which now holds 13,350 Bitcoins, becoming the fifth largest public-listed firm by BTC holdings. Despite the
The post Benchmark Sets Metaplanet Stock Target to 2400 JPY on Bitcoin Acquisition, Buy the Dips? appeared first on CoinGape.
The crypto market has been making steady gains in the last two weeks as the macroeconomic uncertainty from the ongoing US-China trade war weakens the dollar while making Bitcoin and altcoins more appealing to traders. Amid minimal chances that the two economic giants will reach a trade deal soon, crypto traders are seeking the best altcoins to buy to position themselves for gains.
A New York Times report has stated that China will only hold talks with US officials if tariffs are cancelled first, a move that has seen traders buy altcoins to hedge against macro uncertainty. According to China’s Commerce Ministry,
“If the United States does not correct its wrong unilateral tariff measures, it means that the United States has no sincerity at all and will further damage the mutual trust between the two sides.”
This statement indicates a lack of resolution in the near term, which is exerting downward pressure on the US dollar, with the DXY plummeting to the lowest level in more than four years. As the dollar weakens, the Federal Reserve may trim interest rates despite data from CME FedWatchTool showing that 97% of investors do not expect rate cuts at the May 7 FOMC meeting.
If the Fed is pressured to trim rates given the current conditions around tariffs, the greenback will likely plunge further, and this will bolster demand for assets like gold, silver and Bitcoin, with BTC already surging by 14% in the last two weeks. Altcoins, including Solana, Fartcoin and SUI, have also been making notable gains, making them good tokens to buy.
The altcoins that are on top of the leaderboard and have the potential to make 10x gains amid the ongoing tariff war include SOL, FARTCOIN and SUI. Let’s explore why.
Solana trades at $148 today with a slight 1.21% decline in 24 hours, and one of the reasons why it is among the top altcoins to buy is its resilience in 2025 despite macro concerns. Moreover, SOL’s daily chart shows that the altcoin has created a W pattern, which supports a bullish Solana price prediction if it can defend support at $148. If SOL bounces above $150, it faces the next resistance at $180, after which the rally might extend to $270.
SUI has been making waves across the crypto market recently as one of the altcoins to watch because of a surge in blockchain activity. Data from DeFiLlama shows that last month, SUI added $4 billion to its DEX volumes, causing an over 45% price gain. If this metric surges again this month as traders flock to this altcoin due to tariffs, it may register more gains.
The other altcoin to buy is FARTCOIN, which is currently one of the top-performing meme coins. The token trades within an ascending parallel channel, suggesting that a bullish momentum is in play. This bullish strength is also confirmed by the rising RSI, and if FARTCOIN can overcome resistance at $1.29, the meme coin eyes a parabolic rally to $2.75.
The ongoing tariff war between China and the US has fueled speculation that assets like gold, silver, Bitcoin, and altcoins are the best options to buy as the US dollar extends its downward trend. SOL, SUI, and FARTCOIN are some of the top altcoins that are outperforming the rest of the crypto market despite hurdles in President Trump’s negotiations with China.
The post 3 Altcoins to Buy If Donald Trump’s Trade Negotiations with China Fail appeared first on CoinGape.
In June, Bitcoin’s hashrate suddenly plunged to its lowest level in over a year. The decline came amid heightened political tensions between the US and Iran, prompting speculation about a potential geopolitical connection.
However, experts remain divided. What are the arguments on both sides of the debate? Here’s a deeper look.
Hashrate, a key metric measuring the computational power securing the Bitcoin network, indicates the scale and health of mining activity.
A high hashrate means more miners participate, making the network more secure. When the figure drops, it typically suggests that many miners have paused operations for some reason.
According to CryptoQuant, the 7-day average Bitcoin hashrate dropped to 800 EH/s — its lowest level since March 2025.
This sharp decline occurred between June 14 and 24, coinciding with rising military tensions involving Israel, the US, and Iran.
Nic, founder of CoinBureau, proposed a provocative theory. He suggested Iran may have converted oil into Bitcoin to bypass sanctions and fund state spending.
In a post on X, Nic estimated that about 3.1% of the global Bitcoin hashrate could be coming from Iran.
About 1 in every 32 Bitcoin may be mined in Iran
According to some reports, Iran may account for ~3.1% of global BTC mining.
Why?
They figured out how to turn oil into crypto to dodge sanctions and spend freely.
How it works:
Domestic model: Burn oil/gas to power rigs…
— Nic (@nicrypto) June 26, 2025
He argued that the drop in hashrate following US airstrikes might not be coincidental. Bitcoin mining facilities operated by Iran’s Islamic Revolutionary Guard Corps (IRGC) could have been targeted.
This theory is supported by blockchain analytics firm Elliptic, which has reported that Iran uses Bitcoin mining as a financial tool to withstand international sanctions.
Mike Alfred, another analyst, went further. He claimed that Iran is not only evading sanctions with Bitcoin, but also selling BTC obtained through cyberattacks to buy missiles and upgrade its uranium enrichment infrastructure.
“We might have entered an era where countries are bombing each other’s Bitcoin mining facilities as part of the global hash war I predicted in 2017,” Max Keiser told BeInCrypto.
Rob Warren, author of The Bitcoin Miner’s Almanac, offered a different view. He suggested the drop may be rooted in domestic conditions in the US, not geopolitical conflict.
Instead of blaming airstrikes in Iran, Warren pointed to extreme heat in the US as a more likely factor.
“It’s impossible to know at any given moment how many miners are operating. Block time is the only proxy we have for existent hashrate. My guess is curtailment due to the US heat dome, combined with many other unknowns. I don’t think Iran is a single cause,” Warren said.
Tech investor Daniel Batten agreed and applied Occam’s Razor — the idea that the simplest explanation is usually correct.
He noted that record-high temperatures in Texas drove up electricity demand on the ERCOT power grid, forcing miners to scale down operations to prevent overload.
Data from the US Energy Information Administration (EIA) shows electricity usage in Texas has surged, partly due to the growth of data centers and mining facilities. Natural gas-powered electricity generation is projected to increase by 8% in 2025.
The crypto community watches closely for definitive answers as geopolitical instability and climate-related disruptions rise. Regardless of the cause, this hashrate drop will likely have long-term implications for Bitcoin’s price and mining strategies.
The post Experts Debate Why Bitcoin Hashrate Plummeted in June appeared first on BeInCrypto.
