Bitcoin remains in a narrow trading range between $63,000 and $65,000, currently priced around $64,100, as the broader market experiences a risk-off sentiment. This comes amid escalating US-Iran tensions, which have pushed Brent crude prices above $85 per barrel, marking a one-month high with over 10% weekly gains. The US semiconductor sector has led declines due to concerns over potential cuts in AI infrastructure spending by cloud vendors. Ethereum is underperforming Bitcoin, trading at $1,832 after briefly surpassing $1,900. Key resistance is noted at $1,847, with bulls needing to reclaim the 200-day moving average near $2,400 to strengthen its position. Meanwhile, US spot Bitcoin ETFs have seen net inflows for four consecutive days, reversing a previous trend of $8 billion in net outflows. In the options market, realized volatility is low, and market makers are in a Gamma short position ahead of the July 28-29 FOMC meeting, with potential upside if geopolitical tensions ease.