Iran reopens Strait of Hormuz, Bitcoin breaks $76,000
Iran's foreign minister declared the Strait of Hormuz completely open for the ceasefire period, prompting President Trump's approval and sending oil down nearly 10% to $85.90 per barrel. Bitcoin rose to $76,400 on the news. Traders view a sustained break above $76,000 as a potential setup for a larger rally, though the level has repeatedly triggered selling in recent days. Read more →
Kraken Acquires Bitnomial for Up to $550 Million
Payward, Kraken's parent company, is acquiring Bitnomial for $550 million to gain full regulatory approval for U.S. crypto derivatives trading. Bitnomial holds all three licenses needed to operate a complete derivatives business – a shortcut that would have taken Kraken years to build independently. The acquisition was done in a mix of cash and stock and values Payward at $20 billion. Read more →
Miners Dump Record Bitcoin Amid Industry Split
Public bitcoin miners sold more than 32,000 BTC in the first quarter of 2026, exceeding all of 2025's sales and surpassing the previous record of roughly 20,000 BTC from 2022 (see charts here). The liquidation reflects survival mode as mining revenue hovers near all-time lows, though the industry is fracturing – some operators forced to sell while others with capital or ultra-cheap power are accumulating. Read more →
📥️ Want to advertise in CoinSnacks? Learn More