Bitcoin Holds Steady at $64K as Ethereum Surges Amid Geopolitical Tensions

Crypto prices have closed the week in cautious green after a volatile few days. Bitcoin held above $64K, while Ethereum outperformed and reached new heights. However, the market remains below its starting point for 2026 due to various factors.

A softer-than-expected inflation print earlier in the week boosted crypto prices, with Bitcoin briefly surpassing $65,000 and Ethereum reaching over $1,900. However, a sixth straight day of US airstrikes against Iran pulled risk assets back down, limiting gains.

Ethereum continued to outperform its peers, with analysts pointing to its historical tendency to lead broader crypto recoveries. Its technical setup also looks stronger than Bitcoin's right now, having reclaimed key moving averages while pressing toward 100-day EMA resistance near $1,944.

The market is now focusing on the upcoming Federal Reserve meeting on July 28-29, which will determine whether the recent bottom holds or another leg lower opens up. A hawkish hold or hike could keep the dollar elevated and pressure crypto, while a dovish surprise could provide relief for risk assets.