Geopolitical risk in the Middle East rose again after additional U.S. strikes on Iran and a declaration to blockade the Strait of Hormuz, but the virtual asset market reacted calmly.
According to global virtual asset market tracker CoinMarketCap on the 12th, as of 8:14 a.m. that day, bitcoin was trading at $63,778, down 0.50% from 24 hours earlier. Ethereum, the No. 2 by market capitalization, was down 0.25% at $1,802. Ripple and Solana fell 1.87% and 1.15%, respectively, showing relatively weak performance.
The market sees the June consumer price index (CPI), due on the 14th, as the key variable. With upward pressure on oil prices growing due to the Middle East crisis, some analysts say the Federal Reserve's rate path ahead of the Federal Open Market Committee (FOMC) later this month will steer the virtual asset market afterward.
While market funds have concentrated in large AI-related tech stocks, slowing inflows into the virtual asset market, there is also an outlook that virtual assets could rise if rates are kept on hold and the possibility of further tightening fades.