Crypto steadies as Middle East tensions counter U.S. inflation report boost

MarketsCrypto steadies as Middle East tensions counter U.S. inflation report boostBitcoin held steady at a three-week high as rising tensions between the U.S. and Iran reined in gains from Tuesday's softer-than-expected inflation numbers.By Oliver Knight, Saksham Diwan|Edited by Sheldon Reback Jul 15, 2026, 11:05 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowBitcoin held near a three-week high and ether steadied around its highest since June 3 as U.S.-Iran hostilities capped gains from a softer-than-expected U.S. inflation report on Tuesday.HYPE rose 4% and is targeting a new record above $78, supported by a trend of higher highs and higher lows since May. Rival LIT stalled as profit-taking set in near its all-time high of $2.76.CoinMarketCap's Altcoin Season indicator slipped to 46/100 as strength concentrated in the majors rather than spreading across the broader market.Bitcoin BTC$64,532.45 and ether (ETH) consolidated during Asian and European hours after rallying on Tuesday following a weaker-than-forecast U.S. inflation figure.Bitcoin, while more than 3% higher over 24 hours, fell 0.6% since midnight UTC as tensions between Iran and the U.S. over tanker movements in the Strait of Hormuz ramped up. The largest cryptocurrency earlier touched a three-week high of $65,200.Ether marked a similar trajectory, remaining 5% higher over 24 hours even after dropping 0.8% since midnight. It touched $1,895, the highest level since June 3, on Tuesday. U.S. equities also rose in the period, with Nasdaq 100 futures and S&P 500 futures posting respective gains of 0.53% and 0.22%.The altcoin market also showed pockets of strength; PUMP rose by 8.5% since midnight after a team and investor unlock was mopped up by investors, suggesting robust demand.Derivatives positioningBTC derivatives positioning remains largely unchanged. Open interest ticked up to $17.3 billion, though the move is not me…

Crypto steadies as Middle East tensions counter U.S. inflation report boost

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