Bitcoin rose slightly on Tuesday, extending gains from the prior session following some reports that Iran was seeking a ceasefire in the conflict with Israel.
But gains in crypto markets remained fragile as the Middle East conflict showed few actual signs of deescalation, while traders also remained averse towards risk before a Federal Reserve meeting this week.
Sentiment remained on edge after U.S. President Donald Trump issued a dire warning against Iran, while Tehran and Jerusalem continued to trade strikes against each other.
Crypto markets showed little reaction to the Bank of Japan keeping interest rates steady, with the central bank set to slow its pace of bond tapering only from next year.
Bitcoin rose 0.5% to $107,066.1 by 01:51 ET (05:51 GMT). While the world’s biggest crypto did clock some gains this week, it remained squarely within a trading range seen for most of June.
Iran-Israel uncertainty remains in play, US participation in focus Bitcoin remained rangebound, with its recent gains still keeping the crypto squarely within a trading range seen through most of June.
The Iran-Israel conflict was the biggest point of pressure on risk assets, especially after Trump called for an immediate evacuation of Tehran. His comments ramped up concerns that the U.S. will directly enter the war, marking a major escalation.
But the White House clarified that the U.S. will not directly participate in the war.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
An Axios report showed that Iranian and U.S. officials were seeking to hold talks this week on a nuclear deal and a ceasefire, although there was no clarity whether these talks will materialize.
Iran was also seen rejecting earlier reports that it was seeking a ceasefire.
While worsening geopolitical tensions entail little actual impact on crypto markets, their speculative nature makes them sensitive to swings in sentiment.
Trump Media seeks SEC approval for Bitcoin, Ether ETF Trump Media & Technology Group is seeking approval from the Securities and Exchange Commission to launch an exchange-traded fund that will invest in both Bitcoin and Ether, a filing showed on Monday.
The filing marks the second major ETF application by Trump Media in the past two weeks, after it applied for a spot Bitcoin ETF earlier in June.
But the Trump Media ETFs stand to join a largely crowded stable of U.S. crypto ETFs, which were launched in early-2024.
Trump’s crypto ventures have received flak over their potential conflict of interest, given that Trump can and has directly influenced U.S. crypto policy.
Crypto price today: muted amid Fed angst Broader crypto prices mostly drifted lower, with anticipation of a Fed meeting adding to the risk-off mood. The Fed is widely expected to keep interest rates steady, while focus will be on Chair Jerome Powell for more cues on potential rate cuts this year.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
World no.2 crypto Ether fell 1.1% to $2,579.99, while XRP rose 2.6% to $2.2370.
Cardano and Solana fell between 1.5% and 2%, while Polygon fell 1.2%.
Among meme tokens, Dogecoin shed 2%, while $TRUMP lost nearly 4%.
