Bitcoin ETFs end eight consecutive weeks of net outflows; escalating Middle East tensions drag BTC down to $63,000.
2026.07.13 19:40:00
Reciprocal airstrikes between the U.S. and Iran over the weekend stoked market risk aversion, pushing Bitcoin down more than 1% since 00:00 UTC on July 13, with the cryptocurrency briefly dipping to near $63,000. Brent crude futures, meanwhile, climbed over 3% to nearly $79 per barrel. Markets are worried that shipping disruptions in the Strait of Hormuz will lift energy prices and inflation, in turn limiting the Federal Reserve’s scope for interest rate cuts and weighing on risk assets including cryptocurrencies. Kula Digital Assets Head Taran Dhillon noted that this week the crypto market will engage in a "tug-of-war" between macroeconomic data and Middle East geopolitical developments. Upcoming U.S. CPI and PPI figures will shape market expectations for the Fed’s interest rate trajectory. That said, spot Bitcoin ETFs and Ethereum ETFs have ended eight straight weeks of net outflows, signaling a rebound in institutional demand. Furthermore, the ongoing progress of the CLARITY Act is expected to further improve digital asset regulatory outlooks, offering support to the market.
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