According to The Kobeissi Letter, Iran is currently undergoing a near-total nationwide internet blackout, with only 3% internet connectivity as of June 18, 2025. This significant disruption is likely to hinder access to global cryptocurrency exchanges, limit local trading volume, and may temporarily suppress on-chain activity involving BTC and other cryptocurrencies within the region. Traders should monitor potential impacts on global liquidity, especially for peer-to-peer (P2P) markets and cross-border USDT transactions, as such outages could lead to increased volatility or arbitrage opportunities in decentralized markets. Source: The Kobeissi Letter Twitter, June 18, 2025.