Bitcoin moved higher on Tuesday but remained below recent weekly highs, as escalating tensions between the United States and Iran continued to weigh on overall risk appetite. Despite the rebound, the world’s largest cryptocurrency is still trading within the range that has dominated most of February and remains significantly lower on a year-to-date basis.
Bitcoin gained 2.5% to $67,884.4 at 01:25 ET (06:25 GMT).
Bitcoin stays capped below $70,000 amid geopolitical risks
On Monday, Bitcoin followed strength on Wall Street and briefly climbed to $69,213.3. However, it once again failed to break decisively above the key $70,000 level, a threshold it has struggled to reclaim since late January.
Over the past month, Bitcoin has largely fluctuated between $60,000 and $70,000. Investor appetite for speculative assets has been dampened by mounting uncertainties, particularly surrounding geopolitical developments. The cryptocurrency market has remained under pressure, with Bitcoin still down more than 40% from record highs reached in October.
Risk sentiment is expected to remain fragile as hostilities between the U.S., Israel and Iran show little sign of easing. Leaders in all three countries have indicated limited willingness to de-escalate, while reports confirm ongoing military activity in the Middle East.
So far in 2026, Bitcoin is down approximately 22%. Even renewed buying by major corporate holder Strategy has not been enough to significantly improve broader market sentiment.
Altcoins advance as investors eye U.S. economic data
Other cryptocurrencies also posted gains on Tuesday but remained below Monday’s peaks.
In addition to geopolitical tensions, traders are closely watching upcoming U.S. economic data, particularly February’s nonfarm payrolls report. The release could influence expectations for Federal Reserve interest rate policy. Several Fed officials are also scheduled to speak ahead of the payrolls data due on Friday.
Cryptocurrency prices are highly sensitive to changes in interest rate expectations, given their reliance on liquidity conditions and borrowing costs. Any shift in rate outlook could therefore impact the direction of digital assets.
Ethereum, the second-largest cryptocurrency, rose 2.6% to $1,993.79. XRP gained 0.9% to $1.3621. Solana advanced 2.9%, while Cardano slipped 1.1%. BNB climbed 2.5%.
Among memecoins, Dogecoin fell 0.6%, whereas $TRUMP added 1.5%.
Overall, Bitcoin and the broader crypto market remain caught between geopolitical uncertainty and shifting monetary policy expectations, limiting the strength of the latest rebound.
