Bitcoin edged slightly lower on Tuesday, easing after briefly nearing the $76,000 mark, as investors kept a close eye on oil price volatility linked to the Middle East conflict and awaited major central bank decisions.
The leading cryptocurrency was last down 0.2% at $74,605.5 as of 18:10 ET (22:10 GMT). Earlier in the session, Bitcoin had climbed to a high of $75,991.2.
Bitcoin buoyed by short covering, ETF inflows
Bitcoin drew support from short covering, as traders closed out bearish positions built during the early-February sell-off. However, the upward momentum faded במהלך the session, leaving prices hovering near unchanged levels.
Further support came from renewed institutional interest and steady inflows into spot Bitcoin ETFs.
“Despite the rebound, Bitcoin’s path through March has been uneven. Each rally has met selling pressure near established resistance levels, as traders take profits following sharp gains,” said IG market analyst Axel Rudolph.
“This has resulted in a pattern of advances followed by consolidation, as the market searches for clearer direction,” he added.
Iran conflict and oil surge concerns linger; Fed decision in focus
Geopolitical tensions remained front and center as the conflict involving the U.S., Israel, and Iran entered its third week, keeping global risk sentiment fragile.
Oil prices slipped overnight but rebounded on Tuesday, staying above $100 per barrel amid ongoing concerns about potential supply disruptions through the Strait of Hormuz.
Persistently high energy prices have fueled worries about prolonged inflation, shaping investor positioning across markets, including cryptocurrencies.
“While escalating global tensions initially sparked risk-off selling, cryptocurrencies later began to behave more like defensive assets as the situation evolved,” said IG analyst Axel Rudolph.
Attention is now turning to the Federal Reserve’s policy decision on Wednesday. While the central bank is widely expected to leave interest rates unchanged, investors are closely watching for signals on inflation.
In addition, several other major central banks are set to hold policy meetings later this week.
Mastercard to buy BVNK in $1.8 billion stablecoin expansion
Mastercard announced on Tuesday that it has reached an agreement to acquire BVNK, a stablecoin payments infrastructure provider, in a deal worth up to $1.8 billion. The acquisition aims to strengthen Mastercard’s footprint in blockchain-driven transactions.
The move reflects increasing regulatory clarity and rising adoption of stablecoins, which are enabling card networks to expand beyond traditional payment systems into faster and more cost-efficient digital transfers. Both Mastercard and Visa are racing to establish an early advantage in this rapidly evolving sector.
The deal includes up to $300 million in contingent payments and is expected to be finalized before the end of 2026.
BVNK offers infrastructure that bridges fiat currencies and stablecoins, facilitating payments across major blockchain networks in over 130 countries. The acquisition is expected to enhance capabilities in areas such as cross-border remittances, business transactions, and digital token payouts.
Crypto prices today: altcoins remain subdued
The second-largest cryptocurrency, Ethereum, fell 0.9% to $2,335.81. Third-ranked XRP declined 1.2% to $1.5324. Solana dropped 1.1%, while Cardano was largely unchanged. Among meme coins, Dogecoin slid more than 1.8%.
Sources: Anuron
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