Bitcoin Falls to $64,000; Rising Oil Prices and Outflow of ETF Funds Put Pressure
2026-08-11 19:36:41
According to CoinMeta, Bitcoin ($BTC) fell to $64,000 on Tuesday, affected by rising oil prices and the uncertainty of negotiations between the United States and Iran, which suppressed market sentiment. Weakening institutional demand further increased the pressure. U.S. spot Bitcoin ($ETF) saw a net outflow of $144.67 million at the beginning of this week, ending a five-day streak of capital inflows. Geopolitical uncertainties, renewed concerns about inflation, and weakening demand for (ETF) have made investors cautious, limiting Bitcoin's ability to rebound. U.S. President Donald Trump's response to the terms of the Iran peace agreement, with his additional demands, may complicate diplomatic efforts and delay the reopening of the Strait of Hormuz. The continued rise in oil prices could push up production and transportation costs, creating new inflationary pressures. The market estimates a 51.3% probability that the Federal Reserve will raise interest rates by 25 basis points at its September meeting. Bitcoin is currently trading at around $63,916, down 1.44% from the previous trading day.
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Source:CoinJournal
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