{"id":97748,"date":"2026-05-31T18:32:42","date_gmt":"2026-05-31T15:32:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=97748"},"modified":"2026-05-31T18:36:28","modified_gmt":"2026-05-31T15:36:28","slug":"week-in-review-bitcoin-jitters-from-hormuz-and-fidelitys-crypto-market-trends","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/week-in-review-bitcoin-jitters-from-hormuz-and-fidelitys-crypto-market-trends\/","title":{"rendered":"Week in Review: Bitcoin jitters from Hormuz and Fidelity\u2019s crypto-market trends"},"content":{"rendered":"<p>Bitcoin slid toward $73,000; Fidelity outlined crypto-market trends for 2026; private transactions were proposed for Ethereum \u2014 and more from the week.<\/p>\n<h2 class=\"wp-block-heading\">Pressure from Hormuz<\/h2>\n<p>The leading cryptocurrency began the week by <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-holds-above-77000-as-oil-slumps\">breaking above $77,000<\/a>, a level that had capped gains in prior days. The main driver was a drop in oil prices after reports of positive momentum in US-Iran talks that would reopen shipping in the Strait of Hormuz.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-78b6a35de50281fc-5842265026404344.webp\" alt=\"image\" class=\"wp-image-280791\"\/><figcaption class=\"wp-element-caption\">Hourly chart of BTC\/USD on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">TradingView<\/a>. \u00a0<\/figcaption><\/figure>\n<p>However, as the Middle East conflict escalated, prices slumped <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-falls-below-73000-amid-middle-east-conflict-escalation\">below $73,000<\/a>. Beyond political and macro pressures, CryptoQuant flagged technicals: spot trading volumes <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-spot-volumes-hit-2023-lows\">fell to 2023 lows<\/a> and a market-wide <a href=\"https:\/\/forklog.com\/en\/news\/cryptoquant-highlights-bitcoin-buyer-shortage\">demand shortfall<\/a> emerged.<\/p>\n<p>Bitcoin fell about 3.7% for the week, settling around ~$73,500.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-03fb82696d0448df-5842265085787455.webp\" alt=\"image\" class=\"wp-image-280792\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/coinmarketcap.com\/\">CoinMarketCap<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Most major altcoins showed similar moves. Against that backdrop, BNB and HYPE kept rising \u2014 up 9.7% and 8.6%, respectively. The <a href=\"https:\/\/forklog.com\/en\/news\/the-price-of-popularity-and-a-lesson-for-all-hyperliquid\">Hyperliquid<\/a> token climbed to ninth by market value, displacing Dogecoin.<\/p>\n<p>Spot bitcoin <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a>s continued to record outflows, which accelerated \u2014 $1.42 billion versus $1.26 billion the previous period.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-5c5d7bd70ef82ce7-5842265085787690.webp\" alt=\"image\" class=\"wp-image-280793\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/sosovalue.com\/assets\/etf\/us-btc-spot\">SoSoValue<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Ethereum funds added to the negative trend, losing $241.4 million versus $216 million a week earlier.<\/p>\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-ad2f72ca wp-block-group-is-layout-flex\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-39269db3f40058bd-5842387651903845.webp\" alt=\"12\" class=\"wp-image-280795\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/sosovalue.com\/assets\/etf\/us-eth-spot\">SoSoValue<\/a>.<\/figcaption><\/figure>\n<\/div>\n<p>The crypto <a href=\"https:\/\/forklog.com\/en\/news\/what-is-cryptos-fear-and-greed-index\">fear and greed index<\/a> even rose to 28 from 25, exiting the zone signaling extreme investor fear.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-4cdb5c4d9eeff6cf-5842265082216448.webp\" alt=\"image\" class=\"wp-image-280794\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Alternative.me<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Total market capitalization slipped to $2.57 trillion. Bitcoin\u2019s dominance was little changed at 59.3%, while Ethereum\u2019s share stayed below 10%.<\/p>\n<h2 class=\"wp-block-heading\">Developers propose adding private transactions to Ethereum<\/h2>\n<p>Facet co-founder Tom Lehman <a href=\"https:\/\/forklog.com\/en\/news\/developers-propose-integrating-private-transactions-into-ethereum\">proposed<\/a> including EIP-8182 in the upcoming Ethereum upgrade dubbed <a href=\"https:\/\/forklog.com\/en\/news\/a-quiet-evolution-why-whales-are-buying-ethereum-ahead-of-glamsterdam-and-hegota\">Hegota<\/a>. The initiative would add a protected pool at the base layer for private transfers of ether and <a href=\"https:\/\/forklog.com\/en\/news\/what-are-erc-20-tokens\">ERC-20<\/a> tokens.<\/p>\n<p>The system is planned as a contract with no admin keys or pause function. It would use Groth16 <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-zero-knowledge-proof\">zero-knowledge proofs<\/a> to validate transactions.<\/p>\n<p>Lehman explained that current mixing services underperform due to fragmentation. New pools struggle to attract users without an installed base, and without liquidity they can\u2019t deliver adequate anonymity. EIP-8182 would create a single environment for all wallets and apps. Users could send hidden transfers to regular addresses or <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-ethereum-name-service-ens\">ENS<\/a> domains without creating special accounts.<\/p>\n<h2 class=\"wp-block-heading\"><strong>What to discuss with friends?<\/strong><\/h2>\n<ul class=\"wp-block-list\">\n<li>Forbes <a href=\"https:\/\/forklog.com\/en\/news\/forbes-identifies-five-ai-applications-in-aviation\">named<\/a> five avenues for AI adoption in aviation.<\/li>\n<li>Researchers <a href=\"https:\/\/forklog.com\/en\/news\/researchers-uncover-religious-bias-in-ai-models\">found<\/a> religious bias in AI models.<\/li>\n<li>The FBI <a href=\"https:\/\/forklog.com\/en\/news\/fbi-uncovers-scam-network-seizes-8-billion-in-bitcoin\">exposed<\/a> a scam-center network and seized $8 billion in bitcoin.<\/li>\n<li>Startup Moth <a href=\"https:\/\/forklog.com\/en\/news\/london-startup-moth-unveils-first-quantum-computer-game\">unveiled<\/a> the first game for quantum computers.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Fidelity outlines 2026 crypto-market trends<\/h2>\n<p>Analysts at Fidelity Digital Assets reviewed the first half of 2026 and <a href=\"https:\/\/forklog.com\/en\/news\/fidelity-identifies-key-cryptocurrency-market-trends-for-2026\">identified<\/a> six structural trends shaping the industry. They argue the period is marked by a \u201ctechnical retooling\u201d of the ecosystem rather than a simple price rally.<\/p>\n<p>Among the main trends, Fidelity highlighted:<\/p>\n<ul class=\"wp-block-list\">\n<li>a faster convergence of digital assets with traditional finance, helped by the arrival of options on spot bitcoin ETPs and progress in <a href=\"https:\/\/forklog.com\/en\/news\/what-are-rwas-real-world-assets\">tokenization<\/a> by major banks.<\/li>\n<li>a stronger focus on tokenholder rights. Projects such as Hyperliquid and <a href=\"https:\/\/forklog.com\/en\/news\/what-is-aave\">Aave<\/a> are actively adopting buybacks and revenue-redistribution mechanisms.\u00a0<\/li>\n<li>rising demand for compute for AI, creating competition with traditional mining. Since the start of the year, the 30-day average <a href=\"https:\/\/forklog.com\/en\/news\/what-are-hashrate-and-mining-difficulty-in-cryptocurrencies\">hashrate<\/a> fell 8.8%, and difficulty 7.8%.\u00a0<\/li>\n<li>bitcoin\u2019s technical resilience \u2014 removing the data cap in <a href=\"https:\/\/forklog.com\/en\/news\/what-is-op_return-and-how-does-it-enable-data-storage-on-the-bitcoin-network\">OP_RETURN<\/a> did not bloat the blockchain; Bitcoin Core nodes\u2019 dominance (~77%) supports consensus stability; interest in quantum-resistant upgrades is growing.\u00a0 \u00a0\u00a0<\/li>\n<\/ul>\n<p>As a fifth point, Fidelity cited bearish forces early in the year: bitcoin dropped 13% amid high inflation and forced liquidations. Despite this, institutions continue building capital, and regulatory clarity is laying the groundwork for recovery.<\/p>\n<p>The final trend involves stronger gold positioning and a gradual move away from dollar infrastructure.<\/p>\n<h2 class=\"wp-block-heading\">10,000 critical flaws: Anthropic reports first Project Glasswing results<\/h2>\n<p>Anthropic <a href=\"https:\/\/forklog.com\/en\/news\/anthropic-reveals-10000-critical-vulnerabilities-in-project-glasswings-initial-report\">published<\/a> the first report on Project Glasswing \u2014 a vulnerability-hunting program using the Claude Mythos model.<\/p>\n<p>Over a month, about 50 partners uncovered more than 10,000 high and critical security issues. The bottleneck, the company said, was not discovery speed but validation and releasing patches.<\/p>\n<p>The AI scanned over 1,000 open-source projects and found 23,019 vulnerabilities of all severities. Of these, 6,202 were initially classified as \u201chigh\u201d or \u201ccritical.\u201d On additional review, 90.6% of findings were confirmed, including 62.4% requiring urgent fixes.<\/p>\n<p><strong>Also on ForkLog:<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>A hacker <a href=\"https:\/\/forklog.com\/en\/news\/hacker-seizes-15-million-gua-airdrop\">hijacked<\/a> a $15 million GUA airdrop.<\/li>\n<li>IBM <a href=\"https:\/\/forklog.com\/en\/news\/ibm-enhances-ai-model-with-quantum-processor\">sped up<\/a> an AI model using a quantum processor.<\/li>\n<li>The US Treasury Secretary <a href=\"https:\/\/forklog.com\/en\/news\/u-s-treasury-secretary-rules-out-digital-dollar-launch\">ruled out<\/a> launching a digital dollar.<\/li>\n<li>Socket <a href=\"https:\/\/forklog.com\/en\/news\/socket-uncovers-supply-chain-attack-on-cryptocurrency-and-ai-developers\">identified<\/a> an attack on crypto and AI developers.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Experts warn AI is accelerating the quantum threat<\/h2>\n<p>Artificial intelligence <a href=\"https:\/\/forklog.com\/en\/news\/experts-warn-of-accelerated-quantum-threat-due-to-ai\">accelerates<\/a> quantum-computing development and shortens the window in which modern cryptography may lose its strength.<\/p>\n<p>Project Eleven head Alex Pruden said machine learning is already used to optimize error correction \u2014 one of the key barriers to building quantum computers. AI is used not only for defense but also to find weaknesses in cryptography and software.<\/p>\n<p>NEAR co-founder Illia Polosukhin noted that AI has been accelerating scientific research for several years. He allowed that the next generation of quantum systems could be created with its help.<\/p>\n<p>He also pointed to a \u201ccollect now, decrypt later\u201d scenario: encrypted traffic can be intercepted today for future decryption.<\/p>\n<p>Meanwhile, Quantus experts <a href=\"https:\/\/forklog.com\/en\/news\/quantus-highlights-crypto-markets-unpreparedness-for-quantum-threat\">believe<\/a> the crypto industry is not ready to move to post-quantum cryptography.\u00a0<\/p>\n<p>Wallets, exchanges, custodians, validators, bridges and <a href=\"https:\/\/forklog.com\/en\/news\/governance-tokens-vs-utility-tokens-whats-the-difference\">governance<\/a> systems are potentially at risk, they said in the study The State of Quantum: What Crypto Can\u2019t Afford to Ignore.<\/p>\n<p>In the company\u2019s view, crypto faces tighter constraints than conventional IT. In centralized services, cryptography can be updated via patches. In blockchains, user-controlled funds, distributed governance and public keys can remain on the network for years.<\/p>\n<h2 class=\"wp-block-heading\"><strong>What else to read?<\/strong><\/h2>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/the-hormuz-paradox-why-the-oil-shock-failed-to-fell-bitcoin\">We explain<\/a> why bitcoin behaved unexpectedly during the Strait of Hormuz crisis and held up despite market expectations.<\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/johnny-no-longer-mnemonic\">We revisited<\/a> Mike Leigh\u2019s \u201cNaked\u201d (1993) as a cypherpunk film that didn\u2019t know it.<\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/who-is-kevin-warsh-the-new-federal-reserve-chair\">In ForkLog cards, we outline<\/a> who Kevin Warsh is and what is expected of him as the new chairman of the US Federal Reserve.<\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/odessa-scammers-busted-stealth-gpu-cryptominer-and-more-cybersecurity-news\">We compiled<\/a> the week\u2019s most notable security developments in our traditional digest.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin slid toward $73,000; Fidelity outlined crypto-market trends for 2026; private Ethereum transactions were proposed \u2014 and more from the week.<\/p>\n","protected":false},"author":1,"featured_media":97749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Bitcoin slid to $73,000; Fidelity\u2019s 2026 crypto trends; Ethereum privacy proposal.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1233,1244],"class_list":["post-97748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-industry-digests","tag-weekly-summary"],"aioseo_notices":[],"amp_enabled":true,"views":"42","promo_type":"1","layout_type":"1","short_excerpt":"Bitcoin slid to $73,000; Fidelity\u2019s 2026 crypto trends; Ethereum privacy proposal.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/97748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=97748"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/97748\/revisions"}],"predecessor-version":[{"id":97750,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/97748\/revisions\/97750"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/97749"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=97748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=97748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=97748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}