Bitcoin edged marginally higher Thursday, remaining squarely in a tight trading range as increased speculation over U.S. involvement in the Israel-Iran war kept traders largely risk-averse.
Hawkish comments from the Federal Reserve also weighed on risk sentiment, after the central bank kept interest rates steady and remained non-committal to further easing. The Fed also trimmed its rate cut outlook for 2026.
At 05:20 ET (09:20 GMT), Bitcoin rose 0.1% to $104,900.0.
The world’s largest cryptocurrency has stuck to a trading range of between $103,000 to $108,000 for the past week, especially after the onset of renewed military action between Israel and Iran.
A Bloomberg report said on Thursday that U.S. officials were preparing for a potential strike against Iran in the coming days, although it was unclear whether it would materialize.
