web3: Rumors of Asset Transfer from Iran Disturb Market, Bitcoin Surges Above $63,300

CoinWorld reports:

Rumors surrounding whether the UAE has transferred frozen assets to Iran became the focus of market attention on Thursday. Multiple sources indicate that some funds, cash, and gold have been moved from the UAE to Iran, although neither the UAE nor the US has confirmed this. As a result, oil prices fell, and Bitcoin climbed back above $63,300.

Rumors of Asset Transfer Heat Up

According to The Hormuz Letter and various sources on platform X, the UAE may have released some of the frozen Iranian assets held in local banks. It is reported that this batch of transferred assets includes approximately 1.5 tons of gold, valued between $200 million and $283 million.

The reports also suggest that this move by the UAE is related to security guarantees made by Iran, indicating that the UAE would be protected from future attacks. Additionally, there are claims that a Boeing 737-7KK from the UAE Royal Flight made trips between Abu Dhabi and Iran on August 11 and 12, landing at Tehran's Mehrabad Airport and Karaj Payam Airport.

However, much of this information currently comes from social media and regional sources. Previously, there were reports that the UAE might release $10 billion to $20 billion of Iranian assets, but the UAE's Ministry of Foreign Affairs denied these claims at the time, and US officials also denied the existence of any side agreements involving frozen Iranian funds.

Oil Prices Fall to Around $81

Following the emergence of these rumors, international oil prices fell to around $81 per barrel on Thursday, ending a consecutive days-long rise. Traders are also monitoring the progress of negotiations regarding the reopening of the Strait of Hormuz, a vital passage for global crude oil transportation that connects Gulf energy exports.

With the drop in oil prices, market concerns about short-term inflation pressures have eased, providing support for risk assets. In the previous week, WTI crude oil rose over 5%, while Bitcoin fell about 2% during the same period. Rising energy prices typically elevate inflation expectations and suppress the performance of high-volatility assets.

Bitcoin Still Faces Pressure Above

After the decline in oil prices and the softening of US inflation data, Bitcoin briefly rose to around $63,400, ending a four-day streak of losses. The US July CPI growth rate slowed from 3.5% to 3.4% year-on-year, while the core CPI increased by 0.2% month-on-month and 2.5% year-on-year.

However, institutional investors remain cautious. The US-listed spot Bitcoin ETF recorded a net outflow of $61.16 million on Wednesday, indicating that funds have not significantly shifted towards chasing gains.

From a price perspective, the market is first focused on the 50-day moving average resistance level near $64,542, with further resistance at the $66,500 to $66,667 range. On the downside, attention is on the support at $62,300; if breached, prices may retest the year-to-date low near $57,800 from early July.

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