Bitcoin stuck below $65,000 as Hormuz hopes evaporate, XRP close to dropping below $1
Bitcoin remains stagnant below $65,000 as geopolitical tensions in the Middle East and a lack of corporate buying pressure weigh on the market. While some altcoins like XRP and Chainlink have shown gains, broader market sentiment remains cautious ahead of upcoming U.S. economic data.
Why it matters
The crypto market's sensitivity to geopolitical instability and macroeconomic indicators underscores its increasing integration with traditional financial markets.
President Donald Trump's demand for 50 years of compensation from Iran as a condition of any negotiation dashed hopes of a near-term resolution and pushed Brent crude up to $89.08, more than 12% above last week's low.
Bitcoin BTC $ 64,185.08 has gained 0.26% since midnight UTC, but remains down 1.68% over the past 24 hours. Ether ETH $ 1,884.89 , outpacing bitcoin since midnight, is 2.4% lower on the day. Traditional markets are equally subdued, with U.S. equity index futures remaining flat as traders focus on Wednesday's CPI report as the week's key catalyst.
Strategy's sale of a further 1,690 BTC on Monday, the fourth consecutive weekly reduction, added an extra layer of pressure. The company has not bought bitcoin since June.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in