Resurgent U.S.-Iran hostilities send bitcoin lower even as ETF flows show demand
CoinDesk 2026-07-13 11:20:49
Context: Renewed hostilities between the U.S. and Iran have led to a risk-off sentiment in the market, causing bitcoin to fall over 1% to hover near $63,000. The airstrikes over the weekend have raised concerns over shipping through the Strait of Hormuz, a vital oil passageway, leading to a 3% rise in Brent crude futures. This development is expected to add inflationary pressure and reduce the scope for easier monetary policy.
Key Facts
- Bitcoin fell more than 1% since midnight UTC to hover near $63,000 amid a wider wave of risk-off sentiment following the U.S. and Iran mutual airstrikes over the weekend.
- Brent crude futures rose more than 3% to approach $79 a barrel as the renewed fighting raised concerns over shipping through the Strait of Hormuz, a vital oil passageway.
- Spot bitcoin and ether ETFs just broke eight-week streaks of outflows, a sign of growing demand for the two largest cryptocurrencies, according to Taran Dhillon, head of digital assets at Kula.
- U.S. inflation data, expected to be released this week, will shape interest-rate expectations and influence the crypto market, with traders watching Tuesday's CPI release and Wednesday’s PPI for signals on the Federal Reserve’s next move.
- The Clarity Act, which aims to provide regulatory clarity on digital assets, is advancing, with incremental progress expected to reduce regulatory uncertainty and make the asset class easier for institutional capital to underwrite.