Bitcoin dips as Iran oil returns to the dollar system

Bitcoin’s latest weakness cannot be explained only by ETF outflows or a cooling of large-holder demand. There is another layer that has not been sufficiently priced into the discussion: Iran’s partial return to legal, dollar-linked oil settlement. I would not call it the single cause of Bitcoin’s decline. It is better understood as one structural pressure inside a broader repricing. But it matters because it cuts to the heart of one of crypto’s most politically powerful narratives — that digital assets serve as a backdoor for countries pushed outside the dollar system.

…

Excerpt limited to ~120 words for fair-use compliance. The full article is at Asia Times.