📉 Markets report: geopolitical and trade pressures weigh down on cryptocurrencies
• Cryptocurrency markets saw a broad decline amid caution and reduced risk appetite due to several global tensions:
Bitcoin falls: the price of Bitcoin dropped by 0.5% to reach $65,463.40, followed by declines in major alternative coins such as Ether (1.9%) and XRP (2.0%).
Military escalation and impact on energy: tensions between the United States and Iran and the opening of new fronts in the Red Sea led to a 15% increase in crude oil prices this week, raising inflation concerns.
Trade-war worries: the Trump administration’s decision to impose new tariffs on around 60 trading partners increases fears of a recession or a global trade war.
Positive support inflows: despite the pressures, spot Bitcoin investment funds received their best weekly inflow since early May (according to SoSoValue data).
• Cryptocurrency markets saw a broad decline amid caution and reduced risk appetite due to several global tensions:
Bitcoin falls: the price of Bitcoin dropped by 0.5% to reach $65,463.40, followed by declines in major alternative coins such as Ether (1.9%) and XRP (2.0%).
Military escalation and impact on energy: tensions between the United States and Iran and the opening of new fronts in the Red Sea led to a 15% increase in crude oil prices this week, raising inflation concerns.
Trade-war worries: the Trump administration’s decision to impose new tariffs on around 60 trading partners increases fears of a recession or a global trade war.
Positive support inflows: despite the pressures, spot Bitcoin investment funds received their best weekly inflow since early May (according to SoSoValue data).