Bitcoin Drops as Global Turmoil Offsets Softer Inflation View

Dow Jones07-16 22:47

1047 ET - Elevated fighting in both the Russia-Ukraine and U.S.-Iran conflicts has investors nervous about pushing onward with riskier assets like bitcoin, even as reports earlier this week showed softer-than-expected inflation that has investors questioning the likelihood of rate hikes later this year. "Traders remain cautious as geopolitical tensions continue to dominate market sentiment," says Konstantinos Chrysikos of kudo.com in a note. "Ongoing tensions in the Middle East could keep U.S. yields elevated, as prolonged energy disruptions could reignite inflation concerns." Bitcoin is down 0.5% to $64,639, while ethereum falls 1.8% to $1,889, XRP is flat at $1.11, and solana is down 1% to $76.55. (kirk.maltais@wsj.com)

(END) Dow Jones Newswires

July 16, 2026 10:47 ET (14:47 GMT)

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