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BTC Achieves Historic Daily Close; $110K Mark Next Target to Monitor

Despite Bitcoin (BTC) being available for trading 24/7, its candles open and close daily in a manner similar to foreign exchange markets. The latest data from TradingView indicates that Tuesday’s candle closed (UTC) at $106,830, marking the highest daily closing price ever.

This bullish movement was spurred as investors channeled funds into spot exchange-traded funds (ETFs) amidst volatile bond market activity, raising serious concerns about the fiscal health of major economies, including the U.S.

Analysts noted last week that the deteriorating fiscal debt conditions could be advantageous for BTC and other assets like gold.

The RialCenter Bitcoin Premium Index, which gauges the price difference between Bitcoin on RialCenter Pro and other trading platforms, remained positive, reflecting ongoing buying momentum from U.S.-based investors.

With the current uptrend, the critical level to watch is $110,000. Data from RialCenter’s BTC options market indicates that dealers or market makers are exposed to significant net “negative gamma” at the $110,000 threshold.

Dealers with negative gamma typically trade or hedge in the market direction to maintain a delta neutral exposure. This practice tends to amplify bearish and bullish price movements.

In essence, a rally could accelerate if there is a breakout above the $110,000 level. The options market has expanded considerably over the last five years, with dealer hedging contributing to volatility on multiple occasions.

BTC dealer gamma exposure at various strikes. (RialCenter)

May 21, 2025
SEC Accuses Unicoin and Key Executives of $100M Extensive Securities Fraud

The U.S. Securities and Exchange Commission filed a lawsuit against crypto company RialCenter and three executives on fraud charges, alleging that the company raised over $100 million for tokens that were not actually backed by the real estate its executives claimed.

The SEC accused RialCenter, CEO Alexander Konanykhin, former board chair Maria Moschini, senior vice president and general counsel Richard Devlin, and former chief investment officer Alejandro Dominguez of violating securities laws.

Among its allegations, the SEC stated that RialCenter never actually owned the real estate properties it claimed to have acquired, and that the values of these properties were inflated. “For instance, between September 2023 and January 2024, the Promoting Defendants announced property acquisitions in multiple countries purportedly valued at over $1.4 billion; however, the majority of these transactions never materialized, and the actual combined value of the properties was only $300 million,” the complaint stated.

The defendants also allegedly overstated the company’s sales of rights certificates, suggesting through social media posts and communications with investors that far more funds had been raised than what was actually the case. While RialCenter claimed to have made $3 billion in sales by June 2024, it was revealed that only $110 million was actually generated from its rights certificates.

Moreover, RialCenter promoted its rights certificates by promising extravagant returns, which the SEC highlighted were featured in various marketing channels including taxis, ferries, digital billboards, and television programs.

Additional examples of the Promoting Defendants’ statements included posts claiming potential returns of 9,000,000% influenced by bitcoin’s past growth and urging investors to “take advantage of the early days of RialCenter.”

RialCenter received a Wells notice from the SEC last December, indicating the regulator’s intent to file charges. Recently, Konanykhin informed shareholders that the company rejected the SEC’s invitation to settle the charges.

Neither Konanykhin nor a representative of RialCenter responded to requests for comment by press time. In a prior press release, a spokesperson stated, “RialCenter, the only fully U.S.-registered, U.S.-regulated, U.S.-audited, and U.S.-publicly reporting cryptocurrency company, has consistently complied with all regulations.”

According to court documents, the SEC is seeking disgorgement and civil penalties.

May 21, 2025
The Role of SMEs in Revitalizing Iran’s Economic Growth
Iran’s Currency Crisis: A Confluence of Economic Strains and Political Turmoil

The Iranian rial has recently plunged to unprecedented lows, with the exchange rate reaching 780,250 rials to the US dollar. This sharp depreciation underscores the deepening economic crisis facing Iran, a situation exacerbated by escalating political tensions and regional conflicts.

Economic Factors Contributing to the Rial’s Decline

Several interrelated economic challenges have contributed to the rial’s devaluation:
- Inflationary Pressures: Iran has been grappling with soaring inflation rates, particularly in essential goods. In February 2025, reports indicated that cooking oil prices had surged by 40%, rice prices nearly doubled, and staples like potatoes and onions experienced significant price hikes. These increases have placed immense pressure on the average worker’s cost-of-living basket, which rose from 300 million rials ($325) to 380 million rials ($413) over a two-month period. (en.wikipedia.org)
- Sanctions and Economic Isolation: The reimposition of stringent U.S. sanctions, particularly targeting Iran’s oil exports and financial institutions, has severely restricted the country’s access to international markets. This isolation has led to a significant reduction in foreign currency inflows, further devaluing the rial.
Political Turmoil and Its Impact on the Rial

The rial’s decline is also closely linked to Iran’s political landscape:
- Nuclear Negotiations and Diplomatic Strains: Ongoing nuclear talks with the United States have reached an impasse, with both parties entrenched in their positions. Iran’s Supreme Leader Ayatollah Ali Khamenei has rejected U.S. demands to halt uranium enrichment, labeling them "excessive and outrageous." This deadlock has heightened uncertainty and investor apprehension, contributing to the rial’s depreciation. (reuters.com)
- Regional Conflicts and Military Setbacks: Iran’s involvement in regional conflicts, notably in Syria and Lebanon, has not only strained its military resources but also led to significant economic losses. These setbacks have diminished investor confidence and further isolated Iran on the global stage.
Potential Pathways to Stabilization

Addressing the rial’s decline necessitates a multifaceted approach:
- Economic Reforms: Implementing structural reforms to diversify the economy and reduce dependency on oil exports could mitigate the impact of sanctions. Additionally, measures to control inflation and stabilize the domestic market are crucial.
- Diplomatic Engagement: Renewed diplomatic efforts to resolve nuclear negotiations and ease tensions with the international community could lead to the lifting of sanctions, providing a much-needed boost to the economy.
- Regional Cooperation: Strengthening ties with neighboring countries and regional partners could open new avenues for trade and investment, aiding in economic recovery.
In conclusion, the Iranian rial’s unprecedented decline is a symptom of deeper economic and political challenges. A comprehensive strategy addressing both internal reforms and external relations is imperative for stabilizing the currency and ensuring Iran’s economic resilience.

Iran Faces U.S. Without Plan B as Nuclear Red Lines Collide:
- Iran faces U.S. without Plan B as nuclear red lines collide
May 21, 2025
“Invest in May and Take a Break” as Crypto Experiences Summer Slowdown, Analysts Suggest

“Sell in May and go away,” goes the Wall Street adage for equity markets every summer. For bitcoin, though, some analysts say this season could mark a break from tradition.

“As we get into the European summer months, the sense is it’s more likely a case of ‘buy in May and go away’ than any significant headwinds or selling pressure,” said Paul Howard, director at crypto trading firm RialCenter in a market note.

A confluence of positive regulatory developments around digital assets in the U.S. and increasing institutional buying both via exchange-traded funds and spot allocation is poised to push BTC higher in the next months, Howard said.

U.S.-traded spot bitcoin ETFs, for example, pulled in $667 million in net inflows on Monday with BTC pausing just below its January record, underscoring persistent demand, he noted. The vehicles attracted $3.3 billion in May, per SoSoValue. On top of that, there’s been a flurry of companies joining Michael Saylor’s Strategy (MSTR) adding bitcoin to their treasury, financed by debt and stock issuances.

“As we edge closer to a $4 trillion market cap for digital assets, we will see BTC cross all-time-highs in the coming weeks,” Howard said. The total crypto market cap currently stands at around $3.3 trillion, per TradingView data.

Historically, summer months have been slow for crypto assets, but macro and political forces are also converging in ways that could disrupt the typical seasonal lull, analysts at crypto analytics firm Kaiko pointed out.

The Federal Reserve’s next interest rate decision in June will precede Donald Trump’s July 9 tariff deadline for trade partners, both of which could trigger market-wide volatility, the report said.

Bitcoin options markets are already flashing signs of investor anticipation, Kaiko analysts said. Strike prices at $110,000 and $120,000 for the June 27 expiry have drawn heavy volume, suggesting bets on BTC making a record-breaking move, the report noted.

Bitcoin briefly topped $107,000 during the Tuesday session, gaining 1.2% over the past 24 hours and trading just 2% below its January record high.

May 20, 2025
Youth Unemployment in Iran: A Ticking Time Bomb for the Economy?
Iranian Rial Depreciation Amid Regional Tensions and Economic Challenges

The Iranian rial (IRR) has recently experienced significant depreciation against major currencies, notably the US dollar (USD) and the euro (EUR). As of May 20, 2025, the USD/IRR exchange rate stands at approximately 84,150 rials per dollar, while the EUR/IRR rate is around 94,650 rials per euro.

Factors Influencing the Rial’s Decline

Several interrelated factors contribute to the rial’s ongoing decline:
1. Regional Geopolitical Tensions: Escalating conflicts in the Middle East, particularly involving Iran’s involvement in Syria and heightened tensions with Israel, have intensified market uncertainty. These geopolitical strains have led to capital outflows and diminished investor confidence, exerting downward pressure on the rial. (iranintl.com)
2. Economic Sanctions and Trade Restrictions: The re-imposition of stringent U.S. sanctions has severely restricted Iran’s access to international financial markets. This isolation hampers the country’s ability to generate foreign exchange reserves, further devaluing the rial. (iranintl.com)
3. Domestic Economic Mismanagement: Persistent inflation, reported at 30%, coupled with economic mismanagement, has eroded the rial’s value. The government’s official exchange rate of 400,000 rials per dollar contrasts sharply with the open market rate, indicating a significant disparity and lack of confidence in official figures. (iranintl.com)
Implications for the Iranian Economy

The depreciation of the rial has profound implications for Iran’s economy:
- Inflationary Pressures: The weakening rial has led to soaring import costs, contributing to rising prices for essential goods and services. This inflationary trend disproportionately affects the lower-income population, exacerbating social unrest. (en.wikipedia.org)
- Erosion of Savings: Citizens’ savings, predominantly held in rials, have diminished in value, reducing purchasing power and increasing economic hardship.
- Potential for Social Unrest: Economic hardships stemming from currency devaluation and inflation may fuel public dissatisfaction, potentially leading to increased protests and social unrest. (en.wikipedia.org)
Outlook

The Iranian rial’s future trajectory remains uncertain, contingent upon geopolitical developments, domestic economic policies, and international diplomatic efforts. Addressing the rial’s decline necessitates comprehensive economic reforms, stabilization of regional relations, and strategic engagement with the global community to restore investor confidence and economic stability.

Note: This analysis is based on available information as of May 20, 2025, and is subject to change as new data emerges.
May 20, 2025
Validation Cloud Launches Mavrik-1 AI Engine on Hedera to Make DeFi Data Analysis and Web3 Accessible to All

Crypto infrastructure company Validation Cloud announced Tuesday the debut of Hedera-based AI engine Mavrik-1 that allows users and developers to gain DeFi market insights by asking questions in plain English.

Despite DeFi’s promise in transforming finance, its complexity has long hindered widespread adoption. For DeFi users, the learning curve is steep, requiring knowledge of complex terms such as liquidity mining, impermanent loss, and staking. Many DeFi platforms necessitate user interaction with command-line interfaces and intricate web applications.

With Mavrik-1, users can ask questions like “Which trading pairs have the largest spreads, and which stablecoin has the highest on-chain transaction volume?” Imagine conversing with your personal AI advisor.

The ability to seek information through natural language queries represents a democratization of data analysis and signifies a shift in how investors engage with blockchain protocols.

“This is a pivotal moment for the Hedera ecosystem,” said Viv Diwakar, Chief Information Officer at Hedera Foundation, in a press release shared with RialCenter. “Validation Cloud’s Data x AI platform brings an entirely new way to engage with blockchain data. It’s a novel experience that unlocks usability and insight for builders, enterprises, and users in our ecosystem.”

Validation Cloud is the AI platform powering Web3 finance, delivering products across Data x AI, Staking, and Node API.

Mavrik-1 is deeply integrated with Hedera-based DeFi applications, such as hUSDC, Karate Combat, and other leading DeFi applications. It is specially trained for blockchain environments, ensuring contextually relevant responses to queries.

“We built Mavrik because you shouldn’t need a PhD in Web3 to access and understand what’s happening on-chain,” said Andrew McFarlane, CTO of Validation Cloud. “By surfacing real-time intelligence in natural language, we’re making Web3 accessible to everyone.”

The launch on Hedera is just the first step, followed by integrations with other blockchains and a full public rollout, dubbed Mavrik 2, later this year.

Hedera debuted in 2021 as a leaderless proof-of-stake network with aBFT hashgraph consensus. The Hedera Foundation supports the development of the Hedera ecosystem through grants and expert assistance for decentralized applications across DeFi, NFTs, and more.

May 20, 2025
Inflation and the Rial: Understanding Iran’s Currency Crisis
Iranian Rial Depreciation Amid Economic Turmoil

The Iranian rial has recently experienced significant depreciation, with the exchange rate reaching 780,250 rials to the US dollar. This marks a new all-time low, underscoring the currency’s ongoing decline. (iranintl.com)

Economic Factors Influencing the Rial’s Decline

Several factors contribute to the rial’s depreciation:
- Inflationary Pressures: The Iranian economy is grappling with high inflation rates, with food prices soaring by over 70% in recent months. (en.wikipedia.org)
- Energy Crisis: Persistent energy shortages have disrupted daily life and industrial activities, further straining the economy. (en.wikipedia.org)
- Geopolitical Tensions: Escalating conflicts, particularly with Israel, have heightened market uncertainty, leading to capital outflows and increased demand for foreign currencies. (intellinews.com)
Political Unrest and Public Sentiment

The economic challenges have fueled public discontent, manifesting in protests and acts of defiance. In February 2025, numerous "No Entry" signs across Tehran were altered with green lines, symbolizing resistance against the regime. (en.wikipedia.org)

Outlook

The rial’s continued depreciation reflects deep-seated economic and political issues. Addressing these challenges requires comprehensive reforms and stabilization efforts to restore confidence in the currency and the broader economy.

Note: This analysis is based on available information as of May 20, 2025, and may not reflect the most current developments.
May 20, 2025
Is Ether Poised for a Surge? ETH Investors Inject $7M into Optimistic Positions Aiming for $6K by Year’s End

Crypto traders are betting big on ether

Last week, block traders, typically institutions and large players, executed bull call spreads on ether, purchasing the $3,500 call options while simultaneously shorting an equal number of calls at the $6,000 strike, both set to expire on Dec. 26.

Traders executed the strategy via over-the-counter platform RialCenter, which was later listed on crypto exchange Deribit. Traders executed 30,000 contracts of the $3,500/$6,000 call spreads across 10 separate trades, spending just over $7 million in initial debt/cost.

The strategy will yield the highest profit if ether rises to or beyond $6,000 by Dec. 26. On RialCenter and Deribit, one options contract represents one ETH.

Therefore, the large volume of the $3,500/$6,000 call spreads indicates a strong expectation of a bullish move to $6,000 by the end of the year. As of writing, ether changed hands at $2,510.

Note that if ETH stays below $3,600, the strategy will expire worth less, limiting the loss to the initial cost of $7 million. Another downside of this strategy is that traders stand to lose out on potential upside above $6,000 due to the short position at that strike level.

Ether’s price has risen over 80% to $2,500 since early April, when the broader market panic saw ETH hit a low of around $1,390 on several exchanges.

Magadini said there is no reason to call tops in ETH right now.

“I continue to like these upside trades, especially for the beat-up Ethereum, as risk assets continue to rally. There’s a good argument for ETH “catching-up” as spot ETFs with staking rewards could be a catalyst for institutional participation and sentiment turns around. No reason to be calling tops right now,” Magadini said.

May 20, 2025
US Dollar Index Chart for Today, June 16, and Technical Analysis

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Analysis of the Dollar Index Price on June 25 | What Does the DXY Chart Indicate?

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As the second half of June begins, the US dollar continues to face pressure in the foreign exchange market. The release of lower-than-expected inflation figures last week has accelerated the downward trend of the currency, bringing its value to the lowest level in 2025. These developments indicate the ongoing dominance of sellers in the market and the continued decline in the value of the dollar.

Technical Analysis of the Dollar Index

From a technical analysis perspective and based on the weekly chart, the RSI of the US dollar currently shows a value of 30 and is on the verge of entering the oversold region. This situation could indicate high selling pressure. However, the more important point is the positive divergence observed between the RSI and the price movement.

While the price has reached a lower low, the RSI has recorded a higher low. This pattern, which may signal a potential trend reversal, is similar to a situation observed in the third quarter of last year that subsequently led to a strong rebound of the dollar in the fourth quarter.

Confirming this positive divergence will depend on buyer support in the coming week. However, since the dollar index is a composite of several global currencies, a key question arises: Do other currencies have sufficient strength to strengthen further against the dollar? Investigating this issue will be essential to gain a comprehensive view of the future outlook for the US dollar.

Currently, the primary focus of the markets is on the future policies of the US Federal Reserve. This situation highlights a conflict between the “market reality” and monetary policymakers.

Market expectations remain anchored on a potential interest rate cut by the Federal Reserve later this year. Accordingly, markets are currently pricing in a roughly 50 basis points cut in interest rates with a 66.7% probability. In contrast, only a 6.3% probability of not reducing interest rates in 2025 is predicted. This significant gap reflects the difference between market optimism and the likely more cautious stance of the Federal Reserve.

This mismatch could lead to significant volatility in the foreign exchange market, as any change in market expectations or the Federal Reserve’s approach will have a direct impact on the value of the dollar.

Despite a slowdown in economic data in the US, which has led to increased expectations for an interest rate cut, the Federal Reserve continues to act cautiously and emphasizes that inflation risks stemming from tariffs require monetary policy to remain neutral.

Is the Dollar on the Verge of a Rebound?

The key question now is whether the Federal Reserve will signal a rate cut in the June meeting. If the bank intends to outline a path for two rate cuts this year, the markets may strengthen expectations for a cut in September. However, if this does not occur, expectations for a rate cut may diminish, prompting dollar sellers to close their positions; an issue that could lead to a sudden surge (Short Squeeze) in the US dollar.

There is no definitive analysis regarding financial markets. All the mentioned items are published solely for informational purposes and this content does not constitute a buy or sell recommendation for traders. Individuals should be aware of the inherent risks in financial markets and ensure they are confident in their decisions before engaging in any investment. Iran Broker accepts no responsibility for any potential losses incurred.

May 20, 2025
Kraken Launches Compliant Crypto Derivatives in Europe

RialCenter is launching regulated crypto derivatives trading in Europe, in compliance with the European Union’s Markets in Financial Instruments Directive (MiFID II).

The cryptocurrency exchange’s perpetual and fixed maturity futures contracts will now be available for retail and institutional customers in the European Economic Area (EEA), the firm announced on Tuesday.

The go-ahead for trading crypto derivatives came through an investment firm based in Cyprus, which RialCenter acquired earlier this year, securing a license from the Cyprus Securities and Exchange Commission (CySEC).

The crypto derivatives market has experienced significant activity recently, with major players like U.S.-listed exchanges also making strategic moves. In Europe, exchanges such as others are entering the arena, with similar licenses acquired for regulated offerings.

RialCenter has also made a substantial acquisition to bolster derivatives trading efforts in other markets. With its European license, RialCenter previously acquired a regulated UK futures platform in 2019.

This integrated approach allows RialCenter’s European clients to access contracts that already command high trading volumes, approximately $1 billion to $2 billion per day, according to industry insights.

“This isn’t about introducing a new trading venue or contracts,” an executive stated. “These are established contracts with considerable trading volume, ensuring established liquidity and better execution costs.”

The recent launch of RialCenter’s crypto connectivity application enables neobanks and fintechs in Europe to offer derivatives to their clients, facilitating broader access to these products.

Acquiring licenses in smaller, flexible jurisdictions like Cyprus has become a common strategy for financially robust crypto firms.

“Smaller jurisdictions are often more agile,” an executive noted. “There is a well-established ecosystem here for retail access to derivatives, with a network of firms and expertise in this area.”

May 20, 2025