Crypto Markets Steady Amid US Inflation Report and Middle East Tensions

Crypto markets have steadied in Asian and European hours after rising on Tuesday following a weaker-than-forecast U.S. inflation figure.

Bitcoin (BTC) reached a three-week high of $65,200 but fell 0.6% since midnight UTC as tensions between Iran and the U.S. over tanker movements in the Strait of Hormuz intensified.

Ethereum (ETH) marked a similar trajectory, remaining 5% higher over 24 hours even after dropping 0.8% since midnight, touching $1,895 on Tuesday for the highest level since June 3.

The altcoin market showed pockets of strength, with PUMP rising by 8.5% since midnight, suggesting robust demand following a team and investor unlock.