Crypto News Today: Bitcoin’s 50-Week Average Test, Phantom’s Sui Exit, and Iran Risk

Crypto markets are holding on to their recent gains today. However, high leverage and rising geopolitical tension are keeping prices choppy. Phantom is ending support for Sui. Additionally, the US is tightening financial pressure on Iran. Bitcoin is still below an important technical level that could determine whether the recent rally continues to grow.

Phantom to End Sui Support on September 24

Phantom will stop supporting the Sui network on September 24, 2026, following a decision made with the Sui team. Users will not lose their funds. However, they need to move Sui assets to another compatible wallet or swap them for assets supported by Phantom before the deadline. Phantom is also offering fee-free swaps. In addition, it will provide in-app migration guidance. 

The move comes only about 20 months after Phantom launched Sui support in January 2025. It also follows the wallet’s recent decision to drop Monad, hinting Phantom may be narrowing its supported network list.

US-Iran Tensions Add Another Risk

US Treasury Secretary Scott Bessent has announced an aggressive new financial campaign against Iran, targeting the country’s economic lifelines. He also warned nations that continue doing business with Tehran that they could face isolation. Iran has responded by warning Gulf countries against cooperating with Washington. Iran is also threatening consequences.