3 weeks ago
5
Key takeaways
- Bitcoin fell to $63,000 after renewed geopolitical tensions in the Middle East weakened investor risk appetite.
- The U.S. military’s latest strikes on Iran and heightened tensions around the Strait of Hormuz boosted demand for safe-haven assets while pressuring cryptocurrencies.
- Spot Bitcoin ETFs recorded $197.4 million in weekly inflows, ending an eight-week streak of net outflows, but institutional buying failed to offset broader market uncertainty.
Bitcoin (BTC) traded below $63,000 on Monday as escalating geopolitical tensions in the Middle East weakened investor appetite for risk assets, overshadowing improving institutional demand through spot Bitcoin exchange-traded funds (ETFs).
Although Bitcoin ETFs recorded their first week of net inflows in nearly two months, renewed uncertainty surrounding the Strait of Hormuz kept bullish momentum in check.
Middle East escalation sparks risk-off trading
Market sentiment deteriorated after the United States launched fresh military strikes against Iranian targets on Sunday.
English (US)