A new wave of decline hit the cryptocurrency market on Thursday, as geopolitical tensions in the Middle East escalated and concerns over persistent inflation grew, leading to a mass exodus of investors toward the dollar and a decline in high-risk assets.

Major currencies like XRP, Cardano (ADA), and Solana (SOL) lost more than 1% over 24 hours, while Dogecoin (DOGE) recorded a stable daily performance but dropped by more than 10% over the week, erasing all its gains since early June. Ether (ETH) fell by 0.7%, completely wiping out its recent gains.

Despite the weak performance of the currencies, Bitcoin spot exchange-traded funds (ETFs) continued to attract strong investment flows, with $389 million in new purchases recorded on Wednesday. Ethereum spot funds also saw positive inflows totaling $19 million, according to recent data.

$