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Crypto holds near recent highs as Iran tensions offset US inflation data

Bitcoin was near a three-week high around $65,200, while ether traded near its highest level since June 3 at $1,895, as Middle East risk sentiment tempered gains after a softer US inflation report.

Reported · Written up by our desk · Market Structure

CoinDesk reports that crypto prices steadied as rising US-Iran tensions capped gains triggered by Tuesday’s softer-than-expected US inflation report. Bitcoin held near a three-week high, while ether steadied around its highest level since June 3.

CoinDesk data showed Bitcoin at about $64,649.46, more than 3% higher over 24 hours, but down 0.6% since midnight UTC as tensions escalated over tanker movements in the Strait of Hormuz. Ether remained about 5% higher over 24 hours but fell 0.8% since midnight UTC, after touching $1,895 on Tuesday.

The broader market’s direction was mixed beyond the majors. CoinDesk said HYPE gained 4% since midnight with a potential push toward a record above $78.0, while rival token LIT stalled after nearing its all-time high of $2.76 as profit-taking set in.

CoinDesk also cited pockets of activity in altcoins, including PUMP up about 8.5% since midnight after a team and investor unlock was absorbed by investors. Separately, zcash rose more than 10% over the past 24 hours before consolidating around $557.

Latest closeBitcoin $64,633.46 ▼0.5%

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