DUBAI: Cryptocurrency markets moved lower over the past 24 hours as investors assessed rising uncertainty surrounding the Middle East, higher crude oil prices and a series of economic developments in the United States.
The broader crypto market also came under pressure from recent Bitcoin sales by Strategy Inc., while investors remained cautious ahead of key U.S. inflation data due later this week.
Bitcoin, the world’s largest cryptocurrency, was trading at around $64,732, down 0.59% over the latest 24-hour period. Total cryptocurrency market capitalization fell 0.65% to approximately $2.21 trillion, although trading volumes increased by about 35%.
Middle East Uncertainty Keeps Markets on Edge
Geopolitical uncertainty in the Middle East and concerns over the restoration of shipping activity through the Strait of Hormuz have added to market volatility.
Both major crude oil benchmarks were trading around 3% higher, while bond yields increased across several regions. The U.S. dollar also strengthened, with the six-currency Dollar Index rising by nearly 0.25%.
For cryptocurrency investors, the developments have added another layer of uncertainty to an already cautious market environment.
Markets were also reacting to weaker-than-expected U.S. payroll figures and preparing for the release of consumer price inflation and producer price inflation data. The upcoming figures could influence expectations for U.S. monetary policy and broader risk appetite.
Strategy Reports Another Bitcoin Sale
Investor sentiment was further affected by new disclosures from Strategy Inc., the Bitcoin-focused treasury company led by Michael Saylor.
According to a company filing, Strategy sold 1,690 Bitcoin between August 3 and August 9 for approximately $108.6 million, at an average price of $64,262 per Bitcoin.
Following the sales, the company’s Bitcoin holdings stood at 840,447 BTC, acquired for approximately $63.36 billion at an average purchase price of $75,385 per Bitcoin.
The company had previously reported the sale of 1,638 Bitcoin worth about $105 million between July 27 and August 2.
Bitcoin Remains Under Pressure
Bitcoin traded within a 24-hour range of approximately $65,402 to $64,456. Its current price remains about 49% below its reported all-time high of $126,198.07 recorded on October 7, 2025.
The cryptocurrency is also down around 26% year to date.
U.S. spot Bitcoin exchange-traded funds recorded net inflows of approximately $102 million on Friday, down from $138 million the previous day. The iShares Bitcoin Trust ETF led the group with around $87 million in net inflows.
Bitcoin has also slipped to 14th place in the global asset ranking by market capitalization, positioned between Tesla and Berkshire Hathaway.
Ethereum, BNB and XRP Also Decline
Ethereum, the second-largest cryptocurrency, fell 1.4% to approximately $1,895.97. The token traded between $1,935.53 and $1,893.27 over the 24-hour period and remains around 62% below its reported all-time high of $4,953.73.
Ethereum’s year-to-date decline stands at approximately 36.1%.
U.S. spot Ethereum ETFs recorded net inflows of around $50 million on Friday, compared with $92 million on Thursday. The iShares Ethereum Trust ETF accounted for approximately $38 million of the inflows.
Among other major cryptocurrencies, BNB declined about 1% to $601.72, while XRP fell 0.79% to $1.03.
Solana edged down 0.23% to $76.52, while TRON was one of the few major tokens to post a gain, rising 0.33% to $0.3309.
Hyperliquid also recorded a marginal increase of 0.08%, trading at $54.59.
Meanwhile, Dogecoin declined 0.57% to $0.0699, remaining significantly below its 2021 record high.
With Middle East geopolitical developments, oil prices and major U.S. economic indicators all influencing investor sentiment, cryptocurrency markets are likely to remain sensitive to shifts in global risk appetite in the near term.
