Bitcoin Rebounds, But Risk-Off Remains in Crypto Market
Bitcoin rebounded in trading on Thursday (July 9th) after being under pressure in the previous session. The world's largest crypto asset was trading around US$62,808, with an intraday range of US$61,668 to US$63,098.
This increase indicates buying activity after Bitcoin briefly fell near the US$62,000 area. However, crypto market sentiment has not fully recovered as investors continue to monitor the escalating conflict between the United States and Iran.
Geopolitical tensions have escalated again after attacks between the US and Iran sparked concerns about the stability of the Gulf region. Iran also reportedly launched retaliatory attacks on several Gulf countries, while the market remains wary of the risk of disruption in the Strait of Hormuz.
The impact was immediately felt in the energy market. Brent oil prices briefly hovered around US$77.91 per barrel, while WTI traded around US$73.14 per barrel. The rise in oil risk has renewed investor concerns about potential energy inflation.
For Bitcoin, this situation presents a particular challenge. Although often viewed as an alternative asset, in recent months Bitcoin has tended to follow riskier assets like technology stocks. When risk-off sentiment emerges, crypto is also vulnerable to sell-offs.
Pressure also comes from Fed policy expectations. The latest minutes showed Federal Reserve officials remain divided on the direction of interest rates, with some seeing the possibility of a hike if inflation remains high. This has made the market more cautious about speculative assets.
Nevertheless, Bitcoin still benefits from institutional demand. Farside data shows that US spot Bitcoin ETFs recorded net inflows of around US$59.1 million on July 8, 2026, after previously experiencing outflow pressure.
In the altcoin market, movement also tends to be limited. Ethereum is around US$1,624.95, XRP at US$1.059, Solana at US$77.97, Cardano at US$0.1664, and Dogecoin around US$0.0725.
Fundamentally, Bitcoin's current direction is still determined by three main factors: the US-Iran conflict, oil price movements, and Fed interest rate expectations. As long as geopolitical tensions persist, crypto volatility has the potential to remain high.
For the market, Bitcoin is still trying to maintain momentum above US$62,000. If risk sentiment improves and ETF inflows continue, BTC could potentially retest the US$63,000–US$64,000 area. However, if oil surges again and the Fed becomes increasingly hawkish, selling pressure could drag Bitcoin back below US$62,000. (arl)
Source: Newsmaker.id
