Quick overview

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Cryptocurrencies pulled back as investors shifted their focus toward rising geopolitical tensions and their potential economic impact.

Sentiment across the crypto sector deteriorated over the past few days as global volatility returned, driven by the economic fallout from the conflict in the Middle East. Bitcoin, which traded as high as $82,000 last week, is now hovering around $76,500, down 0.8% on the day. Ethereum followed a similar path, slipping 1.4% to $2,106.

The broader altcoin market showed mixed performance. The largest declines were seen in XRP, Dogecoin, and Tron, each falling as much as 0.8%. On the upside, Hyperliquid and Figure Heloc stood out with gains of 2.1% and 5.2%, respectively.

Bitcoin remains under heavy pressure as risk aversion intensifies across global markets amid escalating geopolitical tensions between the U.S. and Iran. Rising oil and natural gas prices have reinforced inflation concerns and weakened investor appetite for more volatile assets such as cryptocurrencies.

Concern Returns to Crypto Markets

According to data from SoSoValue, spot Bitcoin ETFs recorded $648.6 million in net outflows across seven funds during the latest trading session. That added to last week’s total outflows of roughly $1 billion, ending a six-week streak of positive inflows.

“If this wave of withdrawals continues, BTC could remain under pressure and retest the $70,000 demand zone,” Gama noted.

Meanwhile, data from Glassnode showed that activity in Bitcoin options markets suggests traders are increasingly hedging against downside risks, signaling growing fears of a prolonged decline in prices.

Market sentiment also weakened significantly. The Crypto Fear & Greed Index fell to 25, entering the “Extreme Fear” zone and highlighting a highly cautious environment among investors.