Bitcoin (COIN:BTCUSD) edged higher on Tuesday but remained off recent highs as escalating tensions tied to the U.S.–Iran conflict continued to dampen investor appetite for risk.
The largest cryptocurrency by market value is still confined to the range that has dominated trading for most of February and remains significantly lower on a year-to-date basis.
Bitcoin gained 2.5% to $67,884.4 as of 01:25 ET (06:25 GMT).
Bitcoin stuck in February range amid geopolitical strain
The token followed Wall Street’s rebound on Monday, climbing to an intraday peak of $69,213.3.
However, it once again failed to reclaim the $70,000 level — a threshold it has struggled to sustainably break above since late January.
Over the past month, Bitcoin has largely oscillated between $60,000 and $70,000, as demand for speculative assets has been restrained by mounting global uncertainties. The crypto market in particular has remained under pressure, with Bitcoin still down more than 40% from the record highs reached in October.
Risk sentiment is likely to stay fragile as hostilities involving the U.S., Israel and Iran persist. Leaders from all three nations have shown little sign of easing tensions, and media reports indicate that military activity across the Middle East was ongoing as of Tuesday.
Bitcoin is currently down about 22% for 2026. Recent buying by Strategy, its largest corporate holder, has provided limited support to broader crypto sentiment.
Altcoins hold modest gains; economic data in spotlight
The broader crypto market also moved higher Tuesday but stayed below levels seen at the start of the week.
In addition to geopolitical developments, traders are focusing on upcoming U.S. economic releases — particularly February’s nonfarm payrolls report.
That data is expected to shape expectations around the Federal Reserve’s interest rate path. Several Fed officials are also scheduled to speak ahead of the payrolls release on Friday.
Digital assets are sensitive to shifts in rate expectations given their reliance on liquidity and borrowing conditions, meaning crypto markets are likely to react to any change in policy outlook.
Ether, the second-largest cryptocurrency, rose 2.6% to $1,993.79, while XRP gained 0.9% to $1.3621.
Solana advanced 2.9%, whereas Cardano slipped 1.1%. BNB climbed 2.5%.
Among meme tokens, Dogecoin fell 0.6%, while $TRUMP added 1.5%.