Bitcoin (BTC) remains under pressure, trading below $78,200 at the time of writing on Thursday after declining nearly 3% so far this week. Weakening institutional demand, along with escalating geopolitical tensions between the US and Iran near the Strait of Hormuz, continues to dampen risk appetite and weigh on the Crypto King.

Ripple (XRP) falls for the second straight day, trading at $1.37 on Thursday. The broader cryptocurrency market remains fragile as investors weigh the impact of geopolitical tensions in the Middle East, which triggered persistent increases in Crude Oil prices while restricting shipping through the Straight of Hormuz and the Red Sea.

Cryptocurrency prices are moderating on Thursday, with Bitcoin (BTC) dropping to…