Bitcoin rose on Tuesday, but was trading below the highs it reached earlier in the week as escalating geopolitical tensions over a conflict between the United States and Iran kept risk appetite largely in check.
The world's largest cryptocurrency also remained within a trading range seen throughout most of February, and continues to suffer sharp declines year-to-date.
Bitcoin rose 2.5% to $67,884.4 by 09:25 (Saudi Arabia time).
Bitcoin remains within February range as Iranian tensions weigh on the market.
Bitcoin followed some strength on Wall Street on Monday, rising to $69,213.3.
But the world's largest cryptocurrency continued to trade below $70,000 - a level it has struggled to rise above again since late January.
Bitcoin has largely fluctuated between $60,000 and $70,000 over the past month, as appetite for speculative assets has been dampened by a storm of growing uncertainty. Cryptocurrencies in general have remained largely in decline, with Bitcoin continuing to struggle and falling more than 40% from its record highs reached in October.
Risk appetite is expected to remain low as hostilities between the United States, Israel, and Iran continue. Leaders in all three countries have indicated little intention of de-escalating, while media reports showed continued military activity in the Middle East as of Tuesday.
Bitcoin is down 22% so far in 2026. The recent buying action by the largest corporate holder, Strategy&, has done little to boost sentiment towards cryptocurrencies.
Cryptocurrency prices today: Altcoins hold onto some gains, economic data in focus
Prices for broader cryptocurrencies also advanced on Tuesday, but were trading below the highs reached on Monday.
Aside from geopolitics, the focus this week is also on more key data from the world's largest economy, particularly the non-farm payrolls data for February.
The data is likely to influence expectations regarding US interest rates. Several Federal Reserve officials are also scheduled to speak ahead of the jobs report, due on Friday.
Cryptocurrency prices are likely to track any changes in interest rate expectations, given their sensitivity to lending and liquidity conditions.
The world’s second-largest cryptocurrency, Ether, rose 2.6% to $1,993.79, while XRP rose 0.9% to $1.3621.
Solana rose 2.9%, while Cardano fell 1.1%. BNB added 2.5%.
Among meme coins, Dogecoin fell by 0.6%, while $TRUMP rose by 1.5%.
