Iran-linked Bitcoin activity fell about 80%, then rebounded during the blackout

By the end of Iran's prolonged February-to-May 2026 internet shutdown, Bitcoin transaction activity in Chainalysis's selected everyday-use series had recovered to over 75% of its baseline after an initial fall of around 80%, the blockchain analytics company reported Oct. 26. The rebound developed while the blackout was still in place. Some Iran-attributed activity was reaching the network during severe restrictions, while the number of people with dependable access to their funds remains unmeasured. The findings come from Chainalysis's new Middle East and North Africa analysis , covering July 2025 through June 2026.