The cryptocurrency market is clearly struggling with geopolitical pressure. Yesterday, bitcoin slid back by 1% and fell below $67K, losing almost all of its Sunday gains when traditional markets opened and began digesting the conflict between the США and Иран. Cryptocurrency news these days is mainly about how risk-on assets are melting away before our eyes.

It is very indicative what happened to the rest of the market. Эфир fell by 2.5% to $1.97K, Solana lost 4.1%, and XRP slid 3.6% to $1.35. Over the week, Solana has lost 8.1%—clearly the biggest laggard among top tokens. At the same time, нефть surged by 6.4%, marking the largest jump since the invasion of Украина. Gold rose to $5.35K per ounce. All of this suggests that investors are moving into safe-haven assets.

The most interesting thing in cryptocurrency news right now is how all of this will affect inflation and the FРS rates. If нефть remains expensive, rate cuts could be pushed back even further, and that’s bad news for risk assets. Although some traders say that further declines may be limited if supply stabilizes.

Also worth noting is WLFI’s drop—the token fell 14% to $0.08 after the project defended its controversial lending strategy. All of these cryptocurrency news items show that the market is currently extremely sensitive to macro conditions and any new risks. While the Ормузский пролив is closed and negotiations are hanging in the air, crypto will be traded as a pure risk-on asset. We’ll keep an eye on developments.