Investing.com– remained muted on Thursday, trading below $77,000 as escalating geopolitical tensions in the Middle East and inflation concerns dented risk appetite across global markets.
The world’s largest cryptocurrency was last trading near $76,500, down 0.4% over the past 24 hours,
Bitcoin fell to as low as $74,958 on Thursday, after remaining near $78,000 levels in the previous session.
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Renewed US-Iran tensions, oil surge weigh
Sentiment weakened after an Axios report said U.S. President Donald Trump is set to receive a briefing on new military options against Iran, highlighting the risk of further escalation in an already volatile Middle East conflict.
The report underscored that Washington is weighing additional steps to break the current stalemate, with policymakers increasingly focused on both military and energy-market implications.
Oil prices surged sharply in response. jumped above $125 per barrel, marking a four-year high, amid ongoing disruption to flows through the Strait of Hormuz, a critical global oil chokepoint. Brent later retreated to $114 per barrel.
A separate report from The Wall Street Journal said the U.S. is urging allies for a coalition effort to reopen the Strait of Hormuz.
Fed flags inflation risks in a split decision
The macro backdrop was further complicated by the latest Federal Reserve decision, which saw policymakers hold interest rates steady but deliver the most divided vote in decades.
The decision exposed a split over the Fed’s retained “easing bias.” Three regional Fed presidents dissented against language that implicitly signals future rate cuts, arguing it was inappropriate given inflation remains above target and risks are tilted to the upside.
Fed Chair Jerome Powell warned inflation has not yet peaked and acknowledged growing internal pressure to shift toward a more neutral stance. He also confirmed he will step down as chair next month but will remain on the Board of Governors.
Crypto price today: altcoins fall; POL jumps 4%
Most altcoins fell on Thursday, extending losses amid a cautious mood.
World no.2 crypto lost 1.6% to $2,267.65.
World no. 3 crypto edged lower 0.4% to $1.37.
and Cardano fell less than 1% each, while rose nearly 4%.
Among meme tokens, rose 0.5%.
Vahid Karaahmetovic contributed reporting
