Bitcoin holds, ether, solana slide as Mideast woes drag Asian equities to multi-year lows

Bitcoin briefly reclaimed the top of its range but settled back around $67,612, dropping from the $70,000 level again amid broader market uncertainty. Ether fell 2.2%, and Solana was the worst major performer weekly, down 4.2%, as the market waits for clarity on the Iran situation and its impact on traditional markets.

The macro environment is negative, with Asian equities selling off sharply due to the Iran conflict, leading to a 4% drop in the MSCI Asia Pacific Tech index. Oil prices remain a key variable; disruptions in the Strait of Hormuz are fueling inflation expectations, potentially delaying interest rate cuts and tightening liquidity for risk assets like crypto.

Analysts suggest Bitcoin's recent bounce was a 'shock, flush, rebuild move' following forced weekend selling, emphasizing that steady ETF inflows this week are the real signal. However, if the $70,000 resistance holds, a decline toward $63,000 is a working scenario, exacerbated by general disappointment in crypto markets relative to surging traditional assets.

(Source：CoinDesk)