Bitcoin is moving sideways around the $64,000 level. Gains are limited as risk appetite wanes on the possibility of a full-scale war between the United States and Iran.
According to CoinMarketCap on the 20th, as of 8:40 a.m. that day, the price per bitcoin was $64,682, down 0.15% from 24 hours earlier. At the same time, Ethereum, the leading altcoin (Altcoin, all virtual assets except bitcoin), rose 0.5% from the previous day to $1,870.
Markets say preference for risk assets has weakened on the prospect that military clashes between the United States and Iran could flare up again. Analysts note Middle East geopolitical risks are stoking inflation, limiting interest rate cuts and capping bitcoin's upside.
International oil prices also surged. As of 6 p.m. Eastern time, September Brent crude rose 3.12% from the previous session to $90.85 a barrel. It was the first time since the 11th of last month that Brent topped $90 a barrel. At the same time on the New York Mercantile Exchange (NYMEX), West Texas Intermediate (WTI) rose 3.1% to $85.05 a barrel.