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- Oil prices declined after Trump’s statement that a war with Iran could end "very soon."
Trump said on Monday that the war with Iran, which involved Gulf countries in response to attacks by the Islamic Republic, could end "very soon." Despite his optimism that the United States has "already achieved many victories," the president added that he is not declaring the mission over.
Despite ongoing American and Israeli strikes on Iran, the Islamic Republic has confirmed it will continue fighting, according to The Guardian. The Iranian Revolutionary Guard also continued to block ships passing through the Strait of Hormuz, exacerbating the oil crisis.
Meanwhile, oil prices fell from a high of $114 per barrel on Monday to $83, and stabilized around $89 at the time of writing this report.
Risk assets, including cryptocurrencies, may continue to gain if sentiment improves and oil prices remain at low levels, reducing the risk of rising inflation.
Brent crude oil price chart
- Return of funds to Bitcoin ETFs while Ethereum and XRP see outflows.
Bitcoin ETFs started the week positively, recording $167 million in inflows on Monday. This renewed institutional interest marks a break from a two-day streak of outflows, according to SoSoValue data. Total inflows reached $55.54 billion, with net assets at $88.34 billion.
Bitcoin ETF inflows | Source: SoSoValue
On the other hand, Ethereum spot ETFs continued their third consecutive day of withdrawals, with investors pulling approximately $51 million on Monday. Interest in these funds remains volatile amid decreasing cumulative inflows, which totaled $11.58 billion. The total assets under management stand at $11.53 billion.
Ethereum ETF inflows | Source: SoSoValue
XRP ETFs also saw outflows, with withdrawals rising to $18 million on Monday, up from nearly $17 million on Friday. Total inflows amounted to $1.22 billion, with net assets at $971.36 million.
Price volatility, macroeconomic uncertainty, and geopolitical tensions are among the factors driving risk aversion toward XRP.
XRP ETF inflows | Source: SoSoValue