Bitcoin remained steady at a three-week peak as escalating tensions between the U.S. and Iran tempered gains from Tuesday's lower-than-expected inflation report.
By Oliver Knight, Saksham Diwan|Edited by Sheldon Reback Jul 15, 2026, 11:05 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Bitcoin price (CoinDesk Data)SummaryShow- Bitcoin held near a three-week high while ether stabilized around its peak since June 3, as U.S.-Iran tensions limited the impact of Tuesday's softer-than-expected inflation data.
- HYPE surged 4% and is aiming for a new record above $78, buoyed by a trend of higher highs and lows since May. In contrast, LIT faced a slowdown as profit-taking occurred near its all-time high of $2.76.
- The Altcoin Season indicator from CoinMarketCap fell to 46/100, indicating that strength is more concentrated in major cryptocurrencies rather than the wider market.
Bitcoin BTC$64,679.55 and ether (ETH) consolidated during the Asian and European trading hours after experiencing a rally on Tuesday due to a weaker-than-expected U.S. inflation report.
Despite being over 3% higher compared to 24 hours prior, Bitcoin dropped 0.6% since midnight UTC as rising tensions between the U.S. and Iran regarding tanker movements in the Strait of Hormuz intensified. The leading cryptocurrency previously reached a three-week high of $65,200.
Ether followed a similar path, remaining 5% higher over the past day despite a 0.8% decline since midnight. It reached $1,895, marking its highest point since June 3, on Tuesday.
U.S. stock markets also saw gains during this time, with Nasdaq 100 futures and S&P 500 futures increasing by 0.53% and 0.22%, respectively.
The altcoin sector displayed some strength; PUMP increased by 8.5% since midnight after a team and investor unlock was quickly absorbed by buyers, indicating strong demand.
Derivatives Positioning
- BTC derivatives positioning has mostly remained stable. Open interest increased to $17.3 billion, but the change is not significant. The three-month annualized basis stayed at 3.8%, and funding rates broadly ranged between 0%-8% across various platforms, suggesting continued market consolidation.
- Options positioning turned more bullish, as the 24-hour call/put ratio shifted to 66/34 from a previous 58/42. The one-week delta skew remained stable at around 15%. The at-the-money term structure is in contango, with the front end around 32%-33% and the long end approximately 42.5% extending to mid-2027, indicating a calm volatility environment with a renewed bias toward upside positioning.
- According to Coinglass, there were $357 million in liquidations over a 24-hour period, with a 19-81 split between longs and shorts. ETH ($132 million) and BTC ($118 million) led in notional liquidations.
- The Binance liquidation heatmap shows $63,500 as a critical liquidation level to watch in case of a price drop.
Token Developments
- CoinMarketCap’s Altcoin Season indicator declined to 46/100 on Wednesday, likely reflecting the dominance of larger cryptocurrencies like Bitcoin and Ethereum.
- The indicator was also negatively impacted by WLFI$0.05686, which dropped roughly 1% since midnight UTC, despite positive trends in the broader market.
- Hyperliquid (HYPE) demonstrated strength, gaining 4% since midnight as it aims to extend its rally from May, characterized by a series of increasing highs and lows. The next target is a record high above $78.00.
- HYPE’s competitor, LIT, showed minimal movement, gaining only 0.5% as it faced profit-taking and supply distribution after nearing its record high of $2.76.
- Zcash (ZEC) also saw a substantial increase, rising over 10% in the last 24 hours before stabilizing around $557.
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Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
By CoinDesk ResearchJul 13, 2026CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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