Crypto markets and other risk assets remain heavily influenced by macro developments, with geopolitical headlines continuing to steer short-term price action.

Bitcoin slipped below $69,000 on Thursday as risk sentiment deteriorated, reversing earlier optimism סביב a potential easing of tensions between Iran and the U.S. The asset declined more than 3% from an overnight high above $71,000.

Altcoins followed suit, with ether, XRP, Solana and Cardano each dropping between 4% and 5% over the same period.

Oil prices continue to serve as a key market signal. Crude futures climbed around 4%, rebounding from earlier losses and renewing concerns about inflation and possible supply disruptions tied to the Iran conflict.

Equities also came under pressure, with U.S. stocks falling to session lows by midday. The Nasdaq declined about 1.4%, while bond yields moved sharply higher. The U.S. 10-year Treasury yield rose 7 basis points to 4.40%, and Germany’s 10-year Bund yield gained 10.5 basis points to 3.06%.

Large-cap technology stocks remain in a corrective phase. All members of the “Magnificent Seven” are now down double digits from their record highs, including NVIDIA (down 18%), Meta (30%), Amazon (20%), Alphabet (19%), Microsoft (34%), Tesla (25%) and Apple (14%).

“The near-term outlook will continue to be driven by macro developments,” said Joel Kruger, market strategist at LMAX Group. He noted that a clearer path toward geopolitical de-escalation could lift risk assets, including bitcoin, while ongoing uncertainty may keep markets volatile and range-bound.

Crypto-related equities also declined, with Coinbase, Circle and MicroStrategy falling between 3% and 4%.

Bitcoin miners led the losses, reflecting their growing sensitivity to broader tech and AI-related trends. Hut 8 dropped 8.6%, while IREN and Riot Platforms fell more than 7%. TeraWulf and HIVE Digital also recorded notable declines.

WhiteFiber shares tumbled 14% after reporting weaker financial results, including a fourth-quarter net loss of $1.5 million and a full-year loss of $24.7 million. Its parent company, Bit Digital, fell about 8%.

A few outliers moved higher. MARA Holdings gained 8.7% after announcing the sale of $1.1 billion in bitcoin to reduce its debt.