Global markets pulled back while crude oil surged as the Iran conflict entered its fourth day.
Crypto markets retraced some of Monday’s gains amid the ongoing conflict in the Middle East, with oil surging above $75 a barrel as the U.S. and Israel bombarded Iran for a fourth day.
Bitcoin (BTC) is trading at around $68,500, down 1% over the past 24 hours. Meanwhile, ETH and SOL are down 2% at about $2,000 and $86, respectively, and BNB is down 1% on the day.
BTC ChartThe overall crypto market capitalization dipped less than 1% to $2.41 trillion, according to Coingecko.
Global markets are being pressured by a strengthening dollar, with the U.S. Dollar Index (DXY) hitting a 6-week high of 99.68 earlier this morning. The S&P 500 and the Nasdaq dipped by around 1%, while gold and silver plunged by 4% and 7%, respectively.
Most of the Top 100 digital assets posted losses over the last 24 hours.
Top gainers include Mantle (MNT), Aptos (APT), and Near Protocol (NEAR), which rallied approximately 6%.
AAVE and Memecore (M) are today’s biggest losers, down 11% and 9%, respectively.
Around 110,000 leveraged traders were liquidated for $372 million in the past 24 hours, according to CoinGlass. Bitcoin accounted for $147 million, while ETH positions made up $78 million.
Bitcoin exchange-traded funds (ETFs) recorded $458 million in inflows on Monday as investors continued to add exposure despite the ongoing volatility. This follows $787 million of inflows last week.
Source: https://thedefiant.io/news/markets/bitcoin-dips-as-u-s-dollar-spikes-to-6-week-high
