Bitcoin falls below $78K as oil prices rise

Cryptocurrency

Bitcoin fell below the $78,000 mark on Friday but remains on track for a fourth consecutive weekly gain, supported by steady institutional inflows, while escalating geopolitical tensions and a sharp rise in oil prices limited momentum.

The world’s largest cryptocurrency was trading down 0.3% at $77,794.4 as of 08:00 GMT.

Bitcoin briefly rose above $79,000 on Wednesday and was on track for a 4% weekly gain — its fourth consecutive week of increases.

Data from SoSoValue showed that U.S.-traded spot Bitcoin exchange-traded funds continued to attract significant inflows, with nearly $1 billion in net inflows recorded over the past week — one of the strongest weekly performances since January.

Cumulative net inflows into Bitcoin ETFs have now exceeded $58 billion, with total assets at or above the $100 billion mark, highlighting the scale of institutional participation.

Risks in Hormuz persist, oil above $100 per barrel

Market sentiment remained fragile as tensions in the Middle East persisted despite the extension of a three-week ceasefire between Israel and Lebanon.

Concerns over the Strait of Hormuz — a critical artery for global oil supply — continued to dominate investor focus, with disruptions and military activity increasing uncertainty.

Oil prices remained elevated, with Brent crude rising above $106 per barrel, intensifying inflation concerns and putting pressure on risk-sensitive assets such as cryptocurrencies.

Bitcoin showed resilience in recent trading sessions, rising alongside risk assets earlier in the week on optimism over developments related to the ceasefire.

The dollar also strengthened on Friday amid demand for safe-haven assets, reflecting overall caution in financial markets, while global stock indices traded mixed.

Additionally, according to a Reuters report, internal Pentagon emails outlined options for penalizing allies seen as unwilling to cooperate during the U.S. conflict with Iran, including the potential removal of Spain from key NATO roles.

Crypto prices today: altcoins mixed in range-bound trading

The world’s second-largest cryptocurrency, Ethereum, fell 1.3% to $2,311.92.

The third-largest cryptocurrency, XRP, rose 0.7% to $1.43.

Solana declined 0.5%, while Cardano and Polygon rose by more than 1% each.

Among meme tokens, Dogecoin gained 1.8%.

See also: "A $10 billion options “earthquake” in Bitcoin and Ethereum will occur tomorrow!"

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