Bitcoin consolidates near $62K as US-Iran tensions and inflation fears keep investors cautious
Synopsis
Bitcoin hovered near $62,500 as escalating US-Iran tensions, rising oil prices and inflation concerns kept investors on edge ahead of key US CPI data and Fed Chair Kevin Warsh’s testimony. Despite short-term caution, on-chain accumulation by long-term holders and institutional interest continue to support the broader crypto market outlook.
Bitcoin consolidated near the $62,000 mark on Tuesday as US-Iran tensions and inflation fears keep investors cautious. The cryptocurrency was last seen trading at $62,521 around 1 PM.
In the past 24 hours, Bitcoin was down 0.51%, and Ethereum was up 0.04% to trade at the $1,779 mark. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin and Cardano slipped up to 2.46%.
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Crypto TrackerTOP COINS (₹) BNB54,810 (0.68%)USDC96 (0.59%)Tether96 (0.53%)Ethereum171,270 (0.34%)Bitcoin6,010,442 (-0.27%)Akshat Siddhant, Lead Quant Analyst, Mudrex said Bitcoin is consolidating around the $62,500 zone as renewed U.S.–Iran tensions and concerns over the Strait of Hormuz pushed oil prices higher and revived inflation fears. Markets are now focused on today’s U.S. CPI report and Fed Chair Kevin Warsh’s testimony, both of which could shape expectations for interest rates.
Siddhant further said that on-chain data shows long-term holders accumulating 5,912 BTC in just 2 days, signalling continued conviction.
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The global crypto market capitalisation edged down 2.57% to $3.07 trillion, according to . Bitcoin whales holding from 10 to 10,000 BTC have added roughly 11,000 BTC over the past week said CoinDCX Research Team.
In the last one week, Bitcoin was down 1.20% and Ethereum was up 0.19%. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano fell upto 12.20%.
Avinash Shekhar, Co-Founder & CEO, Pi42 said market participants are closely tracking upcoming economic data, while improving institutional interest and steady capital inflows are helping sustain sentiment. Technical indicators also point to an important resistance zone around $68,000, with a decisive move above that level potentially setting the stage for a stronger recovery during the quarter.
Market perspective
CoinSwitch Markets Desk : BTC closed last week above its 200-week moving average, preserving an important technical support level. Attention now turns to this week’s US CPI report, softer inflation could support a recovery, while a stronger reading may add further pressure.
Nischal Shetty, Founder, WazirX: Bitcoin briefly slipped below $62,500 as rising geopolitical tensions in the Middle East pushed oil prices higher, triggering a broader risk-off sentiment across global markets. Higher energy prices have renewed inflation concerns, with investors now closely watching this week’s U.S. CPI, PPI and Fed Chair Kevin Warsh’s testimony for clues on the interest rate outlook.
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Riya Sehgal, Research Analyst, Delta Exchange: Near-term market direction will depend on oil prices, US inflation data, Treasury yields and central-bank commentary. Until these pressures ease, rallies across equities, gold and crypto are likely to remain tactical rather than signalling a durable return to risk-on conditions.
Vikram Subburaj, CEO, Giottus : Institutional demand remains inconsistent. US spot Bitcoin ETFs recorded a net inflow of about $197.4 million during the July 6-10 trading week. This was followed by a $239.2 million net outflow on July 13. This suggests that large investors are still treating rallies cautiously rather than rebuilding exposure consistently.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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