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Bitcoin Holds Near $63,000 Despite Renewed Geopolitical Tensions

Bitcoin Holds Near $63,000 Despite Renewed Geopolitical Tensions

Bitcoin remained resilient as investors balanced geopolitical risks with optimism ahead of key US economic data.

Written by Rahul Dhingra, Edited by David Delima | Updated: 13 July 2026 14:58 IST

Bitcoin Holds Near $63,000 Despite Renewed Geopolitical Tensions

Photo Credit: Unsplash/Erling Løken Andersen

Institutional buying offered support as traders assessed upcoming US macroeconomic events

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Highlights

Bitcoin defends key support before inflation data
US inflation data could shape crypto sentiment
Traders monitor resistance above $64,600

Bitcoin traded near $62,900 (roughly Rs. 60.29 lakh) on Monday as the cryptocurrency market remained resilient despite renewed geopolitical tensions in the Middle East following the closure of the Strait of Hormuz. The world's largest cryptocurrency moved upward by just 0.27 percent over the last week, according to CoinMarketCap data on Monday. Ethereum (ETH) was trading near $1,780 (roughly Rs. 1.71 lakh), reflecting mixed movement across the broader crypto market. Bitcoin is currently priced around Rs. 60.29 lakh in India, while Ethereum trades near Rs. 1.71 lakh, as per today's Gadgets 360 price tracker.

Analysts said investors are now shifting their focus to this week's US Consumer Price Index (CPI), Producer Price Index (PPI), retail sales data, and Fed Chair Kevin Warsh's testimony, all of which could shape expectations around interest rates and determine the crypto market's next move.

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Just like Bitcoin, Binance Coin (BNB) was priced around $569.66 (roughly Rs. 54,540), while Solana (SOL) traded near $76.48 (roughly Rs. 7,323). XRP hovered around $1.07 (roughly Rs. 102), and Dogecoin (DOGE) traded near $0.072 (roughly Rs. 6.9), indicating cautious positioning across large-cap cryptocurrencies.

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Sharing his assessment of the latest market action, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Institutional sentiment has improved, with US spot Bitcoin ETFs recording more than $197 million (roughly Rs. 1,886 crore) in net weekly inflows, bringing an end to an eight-week streak of outflows. While geopolitical developments continue to influence market direction, attention is now shifting to the upcoming US CPI report and Fed Chair Kevin Warsh's testimony.”

Providing a broader market outlook, Vikram Subburaj, CEO, Giottus.com, said, “On-chain data suggests Bitcoin remains below key investor cost-basis levels, indicating that long-term valuations have improved even though the market has yet to confirm a sustained uptrend [...] Investors should avoid chasing short-term rallies ahead of the US macroeconomic data. Staggered investments in fundamentally strong assets and disciplined position sizing remain a more prudent approach until the market establishes a clearer direction.”

Commenting on recent market trends, Nischal Shetty, Founder, WazirX, said, “Bitcoin is trading between key moving averages, where buyers are indicating short-term bullishness [...] Ethereum has held firm around the $1,800 (roughly Rs. 1.7 lakh) mark after gaining nearly 3 percent, supported by renewed institutional demand. Spot US Ethereum ETFs recorded $84.4 million (roughly Rs. 808 crore) in weekly inflows, ending an eight-week streak of outflows, while continued corporate accumulation suggests long-term conviction remains intact [...] Softer inflation would improve the outlook for risk assets, including crypto, while persistent inflation or geopolitical pressures on energy markets could keep volatility elevated.”

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Overall, analysts said Bitcoin has remained resilient despite heightened geopolitical tensions, supported by improving institutional sentiment and steady buying interest. However, this week's US inflation data and Federal Reserve commentary are expected to play a decisive role in determining whether Bitcoin can break above the $64,600-$65,500 (roughly Rs. 61.85 lakh-Rs. 62.71 lakh) resistance range or slip back toward support near $62,000 (roughly Rs. 59.36 lakh).

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Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Bitcoin, Cryptocurrency, Crypto Markets, Ethereum

Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More