Bitcoin slipped below $63,000 on Monday as renewed geopolitical tensions rattled global markets and pushed oil prices sharply higher. The largest cryptocurrency fell nearly 2% over the last 24 hours to around $62,500, down from near $64,300 early Monday morning.
Solana also dropped below $76, reaching its lowest level since July 1.
The sell-off extended beyond crypto. Gold fell 1.5% to just above $4,000 per ounce, while silver declined more than 2% to around $58.50.
Oil moved in the opposite direction. Brent crude futures jumped 3.25% to around $79 a barrel after fresh U.S. and Iranian military strikes renewed fears over energy shipments through the Strait of Hormuz.
Tehran targeted U.S. facilities across the Gulf on Sunday and said it had again closed the strait. Iran's Revolutionary Guards also said they attacked U.S. military bases in Kuwait and Bahrain on Monday.
According to a Reuters report, before the conflict began in late February, the Strait of Hormuz handled roughly 20% of global daily oil and liquefied natural gas supplies. Ship-tracking data showed vessel traffic through the passage fell to a 5-week low on Sunday.
Crypto Traders Face Widespread Liquidations
The market decline caught leveraged traders heavily positioned for higher prices. CoinGlass data shows 67,063 traders suffered liquidations over the past 24 hours, with total losses reaching $253.11 million. Long positions accounted for $195.60 million, while short liquidations reached $57.51 million.
Bitcoin led individual crypto liquidations with $71.92 million, followed by Ethereum at $60.04 million. Solana recorded another $5.47 million.
Bitcoin ETF Outflow Streak Finally Ends
Institutional flows offered a more positive signal for Bitcoin. U.S. spot Bitcoin ETFs attracted roughly $197 million last week, marking their first weekly net inflow in 9 weeks, according to SoSoValue data. The recovery ended an 8-week outflow streak that included $2.43 billion in May and $4.5 billion in June. July has now recorded $124 million in net Bitcoin ETF inflows.
Solana ETF demand tells a similar story. Spot Solana ETFs posted their first monthly net outflow in June 2026 at roughly $790,000. July inflows have recovered to $3.65 million so far.
Ansem Sees Solana Nearly Doubling to $150
Despite the recent weakness, prominent trader, Solana advocate, and Bullpen cofounder Ansem expects $SOL to nearly double from current levels. In a Sunday X post, Ansem forecast a move toward $150 over the coming months.
He previously argued that several crypto charts were "coiling under really important levels" and said he leaned toward a bullish breakout soon.
Ansem expects $SOL to reclaim the top of its range and reach $150 as the asset begins its first sustained uptrend in more than a year.
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