Bitcoin slips to $64,000 as oil rally and ETF outflows pressure BTC

Key takeaways

• Bitcoin trades below $64,000 as stalled US-Iran negotiations weaken demand for risk-sensitive assets.
• Rising oil prices are increasing inflation concerns and expectations of another Federal Reserve rate hike.
• US spot Bitcoin ETFs recorded $144.67 million in net outflows on Monday, ending a five-day inflow streak.

Bitcoin (BTC) is struggling below $64,000 at the time of writing on Tuesday as rising oil prices and uncertainty surrounding the US-Iran negotiations weigh on market sentiment.

Weakening institutional demand has added to the pressure. US spot Bitcoin exchange-traded funds recorded net outflows at the beginning of the week, ending a five-day run of positive flows.

The combination of geopolitical uncertainty, renewed inflation concerns and softer ETF demand is keeping investors cautious and limiting Bitcoin’s ability to recover.

US-Iran deadlock pushes oil prices higher

Negotiations between the United States and Iran over a potential peace agreement and the reopening of the Strait of Hormuz app...