Bitcoin and XRP face volatility amid Middle East tensions

Bitcoin XRP cryptocurrency market geopolitical risk spot ETF

Bitcoin and major altcoins are experiencing significant market volatility driven by escalating geopolitical tensions in the Middle East. Following reports that the US is evacuating personnel from embassies and military bases due to intelligence regarding Iranian threats, Bitcoin's price fell below the $80,000 mark, hitting a monthly low near $79,700.

While Bitcoin's realized market capitalization has shown signs of increasing—which some analysts interpret as a signal of new capital inflow and a potential bull market—the Coinbase premium has remained negative for five consecutive days, indicating weaker demand in the US compared to international markets. Additionally, institutional trading volume on Coinbase Prime saw a 24.8% decrease on October 24.

XRP is facing conflicting market signals. While XRP spot ETFs recorded a net inflow of $3.55 million on October 22, the asset is under pressure from large holders (whales) moving funds to Binance, a trend that has reached its highest level since March. Analysts suggest that if XRP fails to maintain its support level between $1.28 and $1.30, it could drop toward the $1.00 psychological threshold.

Other altcoin ETFs, such as Zcash (ZEC) and NEAR Protocol, recorded net inflows on October 23, with ZEC attracting $20.52 million and NEAR adding $992,689. Market participants are now closely watching the upcoming FOMC meeting on October 27-28 for further direction.

Entities

Binance · Bitcoin · Bitcoin · Bitwise · BlackRock · Coinbase · Federal Reserve · Fidelity · Franklin Templeton · Iran · Middle East · United States

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] XRP weekly cumulative ETF net inflows reached $4.25 million.
[○ 1 SOURCE] XRP is currently trading at $1.30.
[○ 1 SOURCE] The number of XRP Ledger wallets with balances reached a record 8.24 million.
[○ 1 SOURCE] Bitcoin spot ETFs saw a weekly net inflow of $1.074 billion.
[○ 1 SOURCE] Bitcoin's implied volatility has dropped to its lowest level in three years.
[○ 1 SOURCE] Whale inflows to Binance averaged $112.4 million monthly since August.
[● 2 SOURCES] Franklin Templeton's XRP spot ETF saw a net inflow of $3.55 million on October 22.
[○ 1 SOURCE] Bitcoin's market average purchase price is $77,600.
[○ 1 SOURCE] ZEC spot ETFs recorded a net inflow of $20.52 million on October 23. www.tokenpost.com
[○ 1 SOURCE] The Federal Reserve is scheduled to hold an FOMC meeting on October 27-28. zdnet.co.kr
[○ 1 SOURCE] Bitcoin's realized market capitalization is increasing. blockchainseoul.kr
[○ 1 SOURCE] Coinbase Prime trading volume decreased by 24.8% on October 24. www.tokenpost.kr