Bitcoin Near $62k Amid Renewed US‑Iran Hostilities
Bitcoin remained just above the $62,000 level, last trading 0.6% lower at $62,275.9 as of 01:31 ET (05:31 GMT) on Thursday. Earlier in the week the cryptocurrency had surged to a high of $64,600 before the gains were erased by fresh geopolitical tension.
On Wednesday the digital asset fell more than 2% after U.S. President Donald Trump announced that the interim peace agreement with Iran was "over," a comment that triggered a broad risk‑off move across equities and crypto markets. The statement followed new U.S. strikes on Iranian targets and retaliatory attacks by Tehran, raising concerns about possible disruptions to oil shipments through the Strait of Hormuz.
Brent crude prices climbed toward $79 a barrel, reviving fears of higher inflation and prompting major central banks to remain cautious on interest‑rate cuts. This macro backdrop weighed on speculative assets, including cryptocurrencies, which have been trading increasingly in line with broader risk assets.
Bitcoin briefly slipped below the $62,000 threshold after Trump’s remarks but found support as bargain hunters entered the market; however, trading volumes stayed subdued throughout the session.
The cryptocurrency market is also reacting to signals from the Federal Reserve. Minutes from the latest Fed policy meeting highlighted concerns that higher energy prices stemming from the Middle East conflict could complicate the inflation outlook, adding further pressure on risk‑sensitive assets.
Crypto‑related equities mirrored the digital‑asset sell‑off, with stocks linked to the sector under pressure. Institutional demand via U.S.-listed spot Bitcoin exchange‑traded funds continues to be a key driver of price action this year, and investors are closely monitoring ETF flows for additional cues.
Altcoins showed little movement on Thursday. Ethereum fell 0.7% to $1,741.92, XRP edged up 0.3% to $1.0938, Solana eased 0.6%, Cardano declined 1%, and Dogecoin traded largely flat.