Cryptocurrency prices are trending lower on Thursday, pressured by renewed inflation concerns stemming from ongoing tensions between the United States (US) and Iran and persistently elevated Oil prices. Bitcoin (BTC) is approaching short-term support at $65,000, with upside resistance remaining firm at $67,000.

Meanwhile, altcoins, including Ethereum (ETH) and Ripple (XRP), mirror Bitcoin’s neutral-to-bearish tone, testing key support levels at $1,900 and $1.13, respectively.

Crypto market sentiment is in Fear territory, with a minor drawdown to 31 on Thursday from 33 the day before, according to the Fear & Greed Index. If this weakness persists, it could negatively impact appetite for risk assets, in turn reducing demand and the tail…