Crypto Major Prices Decline Amid Rising Middle East Conflict Concerns

Cryptocurrency markets declined on Thursday as the U.S. dollar strengthened amid rising tensions in the Middle East.

• XRP, Cardano's ADA, and Solana's SOL fell over 1% in 24 hours.
• Dogecoin remained flat but dropped over 10% for the week, erasing its June gains.
• Ether lost 0.7%, reversing earlier weekly gains.

Spot Bitcoin ETFs in the U.S. attracted over $389 million in inflows on Wednesday, while spot Ether ETFs saw $19 million in positive flows.

Concerns about a potential U.S. strike on Iran and a persistent inflation outlook from the Federal Reserve have unsettled investors, impacting equities and crypto assets.

• Fed Chair Jerome Powell noted that tariffs and global conflicts complicate inflation control.
• The Fed maintained steady rates but emphasized the need for more data before potential cuts.

Altcoins, seen as higher-risk investments, are often the first to decline during macroeconomic stress. Bitcoin remains rangebound, up 13% year-to-date due to ETF inflows and dollar weakness, but has not decisively acted as a safe haven or risk asset this week.

Analyst Alex Kuptsikevich remarked that Bitcoin is caught between two dynamics, neither responding to increased risk appetite nor surging like gold amidst conflict.