Bitcoin and other cryptocurrencies came under pressure after a US attack on Iranian targets near the Strait of Hormuz triggered a surge in oil prices to a 40-day high. US 10-year Treasury yields also rose to approximately 4.81%, approaching their highest levels in recent years, while markets priced in a 66–70% probability of a Federal Reserve rate hike in September.
The combination of geopolitical tensions, rising energy costs and higher interest-rate expectations increased investor anxiety and reduced the appeal of riskier assets such as Bitcoin.
Bitcoin fell to approximately $76,500, down 2% over the past 24 hours. The decline also weighed on altcoins: Ethereum dropped 3%, while $XRP and Solana each fell 4%.
Institutional Investors Turn Toward Solana and $XRP
Despite the broader crypto market decline, Wintermute, a prominent cryptocurrency market maker, said institutional investors have started expanding into altcoins following Bitcoin’s strong rally.
Wintermute’s latest report said institutional capital is moving beyond Bitcoin into selected altcoins, including Solana and $XRP. The analysis indicated that large investors are quietly accumulating exposure to both assets.
One of the report’s key findings was that inflows into Solana- and $XRP-focused exchange-traded funds are expected to reach record levels in 2026.
According to the report, Solana funds attracted a total of $154 million, while $XRP funds received $110 million. Wintermute said the figures show that institutional interest extends beyond Bitcoin and Ethereum, with capital increasingly flowing into selected altcoins.
Wintermute stressed that the shift does not mean investors are abandoning Bitcoin entirely. The company described the trend as institutional investors taking positions in altcoins where they see greater return potential after Bitcoin’s rise, rather than exiting Bitcoin altogether.
Crypto Market Shows Macroeconomic Resilience
Wintermute concluded that the cryptocurrency market has demonstrated unexpected resilience in the face of macroeconomic pressure, absorbing the impact of hawkish comments from the Federal Reserve chair and weakness in the US technology sector.
Against this backdrop, Bitcoin has stabilized following its strong rally, while institutional investors have begun allocating more actively to selected altcoins.
*This is not investment advice.
