Bitcoin Pulls Back After Recent Rally
Bitcoin moved slightly lower on Thursday after recently climbing to its highest levels in three months, as investors reacted to potential selling activity from major corporate holder Strategy.
Despite the pullback, overall sentiment across crypto and financial markets remained positive due to growing optimism surrounding possible de-escalation between the United States and Iran.
Bitcoin declined 1.6% to $80,372 during Thursday trading after surging nearly 12% throughout April.
Iran Peace Hopes Continue Supporting Risk Assets
The recent Bitcoin rally has been fueled partly by improving geopolitical sentiment and expectations for reduced tensions in the Middle East.
Reports suggesting that the United States and Iran are making progress toward a diplomatic agreement boosted broader risk appetite across global markets this week.
Both countries have indicated that negotiations are progressing positively, increasing hopes that the conflict could eventually move toward resolution.
Strategy Signals Possible Bitcoin Sales
Bitcoin’s upward momentum slowed after Strategy, the largest corporate holder of Bitcoin, revealed it may consider selling a portion of its holdings.
The company said any potential sales would likely be used to help fund dividend payments, particularly because many of its Bitcoin purchases were financed through debt and equity offerings.
Strategy’s recent STRETCH preferred share offering reportedly attracted strong investor demand, although it also increased the company’s future dividend obligations.
Chairman Michael Saylor did not specify how much Bitcoin the company might sell but stated that Strategy still intends to continue buying more Bitcoin over time.
White House Bitcoin Reserve Announcement Expected
Meanwhile, Coindesk reported that the White House could unveil new details regarding a U.S. national Bitcoin reserve within the next few weeks.
According to the report, Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, said federal agencies have already spent months inventorying and securing government-held Bitcoin assets.
President Donald Trump signed an executive order in 2025 establishing plans for a national Bitcoin reserve using cryptocurrency seized by the U.S. government.
Kraken Parent Expands Into Stablecoin Payments
In another major crypto industry development, Kraken parent company Payward announced plans to acquire Hong Kong-based Reap Technologies for $600 million.
Reap specializes in stablecoin payment infrastructure designed for cross-border and business transactions.
The acquisition follows Payward’s earlier purchase of Bitnomial, a CFTC-licensed derivatives exchange, as the company continues expanding its global crypto services.
According to Bloomberg, the Reap acquisition will be financed through a combination of cash and stock, with Payward shares valued at approximately $20 billion.
Altcoins Also Pause After Strong Gains
Broader cryptocurrency markets also traded lower alongside Bitcoin on Thursday.
Ethereum fell 2.2% to $2,316, while XRP declined 1.4%.
BNB traded mostly flat, while Solana and Cardano posted modest gains.
Among memecoins, Dogecoin dropped around 3%, while the TRUMP token edged slightly higher.
