The world’s largest cryptocurrency was last down 1.4% to $63,305.0
Bitcoin on Tuesday extended losses in a choppy trading session.
Improving demand for U.S.-listed spot bitcoin exchange-traded funds had helped the crypto tick higher earlier, though overall risk sentiment also came under pressure amid a sell-off in technology stocks.
The world’s largest cryptocurrency was last down 1.4% to $63,305.0 by 22:04 GMT.
The United Kingdom Maritime Trade Operations (UKMTO) earlier today said it had received reports about attacks on three separate oil tankers over the past 24 hours in and around the critical Strait of Hormuz.
Two of those tankers were hit by unknown projectiles while the third was struck by a drone, the UKMTO said, adding that there were no casualties reported. The agency later updated its threat level for the region to “severe” from “substantial.”
Oil prices spiked more than 5% on Tuesday against this backdrop.
Also slamming cryptocurrencies was a slide in technology stocks on the back of preliminary fiscal Q1 results and Q2 guidance from Samsung Electronics.
Though the tech giant said it anticipated record Q2 profit, the outlook was not enough to quell investor concerns that the overall artificial intelligence trade had flown too high and too fast.
Still, institutional demand showed signs of improving.
U.S.-listed spot bitcoin ETFs recorded net inflows of $265.7 million on Monday, according to data compiled by SoSoValue, extending gains after $221.7 million of inflows on July 2.
The inflows marked a sharp turnaround after a week of persistent outflows in late June, when investors pulled nearly $2.4 billion from spot bitcoin funds over several sessions amid heightened macroeconomic uncertainty and profit-taking.
Market participants are also watching upcoming minutes from the U.S. central bank on Wednesday for clues on the interest-rate outlook.
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