Crypto Prices Today: Bitcoin Holds at $62,736.94 as Hormuz Tensions Lift Oil, Hyperliquid Drops 2.69%

Crypto prices are holding steady Tuesday despite renewed Middle East tensions. Bitcoin traded at $62,736.94, staying within its recent one-month range. The Strait of Hormuz conflict reignited over the weekend, pushing oil sharply higher. Brent crude settled at $83.30 a barrel Monday, its second straight day of gains. 

Hyperliquid dropped 2.69%, extending losses seen across several major altcoins. Ether held near $1,783, while Solana and XRP also traded lower. Traders now await Tuesday’s June CPI report and Fed Chair Kevin Warsh’s testimony.

Crypto Prices Today: Bitcoin’s Key Levels

Bitcoin (BTCUSD) traded near $62,736.94 Tuesday, holding within a range seen since mid-June. The token swung between an intraday high of $64,273 and a low of $61,794 Monday. Support now sits near $62,249, just below current trading levels. The 50-day moving average stands higher at $64,585, capping near-term upside.

Bitcoin’s technical snapshot today:

• Bitcoin’s 20-day moving average sits near $61,821, offering short-term support.
• The 200-day moving average remains far higher at $73,745.
• Bitcoin’s 14-day RSI reads 45.81, signaling neutral momentum conditions.
• Trading volume surged to 2.23 times its 30-day average on Monday.

Leveraged Positions Add to the Pressure

Forced liquidations hit over $67.45 million in long Bitcoin positions Monday. Roughly 88% of those liquidated positions were leveraged long bets. Mining firm BitFuFu also sold 184 BTC the same day. That combination intensified selling pressure across crypto markets.

Hormuz Tensions Drive Oil Prices Sharply Higher

President Trump reinstated a naval blockade targeting Iranian shipping over the weekend. He announced a 20% cargo fee on vessels using the Strait of Hormuz. Brent crude jumped as much as 4.7% to $79.59 a barrel Monday. Oil later settled even higher, with Brent closing near $83.30.

Why the Strait of Hormuz matters for crypto prices:

• The strait carries roughly a fifth of the world’s seaborne crude oil daily.
• Polymarket traders now see only a 16% chance traffic normalizes by August 31.
• That probability has fallen sharply from nearly 48% earlier this month.
• Higher oil prices raise inflation risk, pressuring rate-sensitive assets like Bitcoin.

Other Markets Felt the Shock Too

South Korea’s Kospi index triggered a circuit breaker amid the selloff. SK Hynix plunged 14%, while Samsung Electronics dropped 10% the same session. Gold slipped below $4,000 an ounce during Tuesday’s Asian trading. Crypto prices held up better than several regional equity benchmarks.

Altcoins Under Pressure Alongside Hyperliquid

Hyperliquid dropped 2.69% Tuesday, adding to a rough week for the token. Over the past seven days, Solana, XRP, and Hyperliquid have each declined by more than 5%. Ether proved more resilient, holding near $1,783 and gaining on the week. That divergence highlights uneven risk appetite across major crypto prices right now.

Today’s major crypto prices at a glance:

• Bitcoin traded at $62,736.94, roughly flat on the week.
• Ether held near $1,783, showing relative strength versus other majors.
• Hyperliquid fell 2.69%, extending a weekly decline exceeding 5%.
• Whale wallets have accumulated more than 270,000 BTC near recent lows.

Spot ETFs Show Renewed Inflows

Spot Bitcoin ETFs have posted renewed net inflows throughout July so far. BlackRock’s IBIT and Fidelity’s FBTC led much of that recent buying activity. This comes after significant outflows weighed on Bitcoin earlier this year. Institutional demand remains cautious, but the trend has clearly turned positive.

CPI and Fed Testimony Loom Large

June CPI data arrives Tuesday at 8:30 a.m. ET, a key catalyst. Headline inflation is expected to slow to 3.8% year-over-year. Fed Chair Kevin Warsh testifies before Congress just two hours later. His comments could shift rate-hike odds currently sitting near 40%.

Our Stake 

Crypto prices are caught between geopolitical risk and looming economic data today. Bitcoin’s hold near $62,736.94 reflects genuine uncertainty rather than confident stability. Hormuz tensions and rising oil prices continue feeding inflation concerns across global markets. Hyperliquid’s 2.69% drop shows altcoins remain more exposed than Bitcoin right now. Tuesday’s CPI report and Warsh’s testimony will likely determine crypto’s next directional move.

Disclaimer:

The content shared by Meyka AI PTY LTD is for research and informational purposes only. Meyka is not a financial advisory service, and the information provided should not be treated as investment or trading advice.