UAE Reportedly Released Iran’s Frozen Assets Worth Billions of Dollars, Bitcoin Rebounds

This is described by some sources as the third such transfer. Earlier claims in Reuters’ June report suggested the UAE had agreed to unlock $10-20 billion, with more than $3 billion already delivered amid the US-Iran war.

However, the UAE Foreign Ministry denied reports of transfers at the time, stating “no frozen Iranian funds have been released, transferred, or facilitated through the UAE.” US officials also rejected claims of any side deals or releases without Iran’s denuclearization.

The latest reports also remain unverified by the UAE or the US as of August 13. However, Iran can get its frozen assets and reparations by auctioning off attack exemptions to Gulf states, including Bahrain, Kuwait, Saudi Arabia, Jordan, and Qatar.

Bitcoin Jumps as Oil Price Declines

Oil prices fell towards $82 per barrel today, snapping a five-day advance as investors hope for a deal to reopen the Strait of Hormuz and the latest transfers of Iran’s frozen assets by the UAE.

However, the Trump administration is also moving toward imposing greater economic pressure on Iran. The measures include expanding economic sanctions and a naval blockade.

Meanwhile, Bitcoin price also jumped 1% within hours as oil prices dropped sharply. The price is currently trading near $63,900, with 24-hour lows and highs of $63,267 and $64,329, respectively.

Bitcoin trading volume has increased by almost 6% over the last 24 hours, indicating traders remain interested. This comes as US CPI inflation slowed for a second consecutive month to 3.4%.

Polymarket data revealed 26% odds of Bitcoin dipping below $60,000 in August, while no is at 76%. Notably, Bitcoin has dropped to its ‘Cost of Production’ zone, a level historically associated with bear-market bottoms.