Crypto Weekly Recap: Trump Spooked Bitcoin, Google Scared Everyone Else — Here’s What Happened

TLDR

• Bitcoin fell below $66,000 after Trump’s “Stone Age” Iran remarks wiped $440M from crypto markets
• A Google-linked study warned quantum computers could crack a Bitcoin wallet in under 9 minutes
• Metaplanet bought 5,075 BTC in Q1 2026, bringing its total holdings to 40,177 BTC
• Coinbase received conditional OCC national trust charter approval for institutional custody services
• The Ethereum Foundation made its largest-ever single ETH stake of 22,517 ETH worth around $46M

Bitcoin had a tough week. Trump threatened to send Iran “back to the stone age,” and markets reacted fast. Bitcoin dropped below $66,000, erasing $440 million across crypto in hours. Oil pushed toward $120 a barrel, and traders moved into risk-off mode quickly.

Dogecoin fell 4.1% in the same sell-off. A whale pulled $83 million from Bithumb during the dip. XRP held flat near $1.33, sitting 45% below its January peak, with $31 million in spot ETF outflows recorded in March.

Solana traded at $83, down 72% from its January 2025 high. Analysts are pointing to $74 or even $50 as possible targets. Despite that, B2C2 named Solana its primary stablecoin network, and the chain led all others in DEX volume for seven straight months.

Trump’s Iran Threat Sends Bitcoin Below $66,000

Trump’s remarks about sending Iran “back to the stone age” hit crypto markets hard. Bitcoin reversed gains from the day before and fell below $66,000, with the total crypto market losing $440 million in a short window.

Geopolitical tension has been building for weeks. Oil prices are approaching $120 a barrel, and that pressure is keeping investors cautious across both crypto and stocks.

The sell-off hit most major tokens. Dogecoin was down 4.1%, and XRP stayed stuck near $1.33, where it has traded since February. Analysts are now watching $1.12 as a possible next support level for XRP.

Google Study Warns Quantum Computers Could Crack Bitcoin in Minutes

A study linked to Google’s quantum research team made headlines this week. It estimated that a powerful enough quantum computer could break Bitcoin wallet encryption in roughly nine minutes, just under Bitcoin’s 10-minute block time.

Current quantum hardware is far from capable of doing this. But the finding has pushed developers to move faster on quantum-resistant cryptographic upgrades for the Bitcoin network.

A Bitcoin wallet dormant since May 2014 also moved 500 BTC across five transactions this week. Some analysts suggested the holder may have been shifting funds to a more quantum-secure setup, though nothing has been confirmed.

Metaplanet Stacks 5,075 BTC in Q1 2026

Metaplanet, Japan’s largest corporate Bitcoin holder, bought 5,075 Bitcoin during the first quarter of 2026. Its total holdings now stand at 40,177 BTC.

The company has gone from zero to over 40,000 Bitcoin in under two years. Its Bitcoin per share has only increased over that period, regardless of share price movements.

Metaplanet’s buying continues even as Bitcoin trades well below its all-time highs. The company has not signaled any slowdown in its accumulation strategy.

Coinbase Gets Conditional OCC Charter Approval

Coinbase received conditional approval from the Office of the Comptroller of the Currency for a national trust company charter. The approval puts Coinbase alongside Ripple and Circle, both of which have received similar approvals.

The charter is structured as a non-insured national trust company. That means Coinbase will not take deposits or issue loans. The scope covers custody, staking, and fiduciary services for institutional clients.

Conditional approval means the process is not complete. But it marks a clear step toward Coinbase operating within the federal banking framework.

Ethereum Foundation Makes Its Biggest Stake Ever

The Ethereum Foundation staked 22,517 ETH this week, worth around $46 million at current prices. It is the largest single deposit the Foundation has ever made.

The move is part of a broader plan to stake up to 70,000 ETH in total. The Foundation is close to reaching that target.

BlackRock also moved closer to launching a Bitcoin income ETF under the ticker BITA this week, filing an amendment with the SEC. The product is designed to generate yield while tracking Bitcoin price exposure.

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