Bitcoin stabilized on Monday after a turbulent weekend, clawing back some of its recent losses as geopolitical tensions continued to pressure global risk sentiment. At 09:15 ET, Bitcoin was trading at $106,690.8, up 1.1%, after briefly falling below $102,000 during heightened military activity between Israel and Iran.
Broader Crypto Markets Follow Bitcoin Higher
Other major cryptocurrencies also posted mild gains, following Bitcoin’s rebound. However, sentiment across the crypto market remains cautious due to renewed hostilities between Israel and Iran, which showed no sign of slowing. The conflict continues to weigh on investor appetite for high-risk assets.
Geopolitical Shock: No Ceasefire in Sight
The latest round of conflict was sparked by Israeli strikes on Iranian nuclear targets, followed by a barrage of missile attacks by Iran, including hits on Tel Aviv. While President Donald Trump stated that efforts were being made to de-escalate, he also remarked that the two nations may have to “fight it out” — further dimming hopes for a ceasefire.
Iran also cancelled planned nuclear talks with the U.S., signaling that diplomatic off-ramps are narrowing.
All Eyes on the Fed
Aside from geopolitical developments, attention is now turning to the Federal Reserve’s two-day policy meeting concluding Wednesday. While no rate change is expected, market focus is on Fed Chair Jerome Powell’s forward guidance. With inflation softening and economic indicators cooling, crypto traders are hoping for dovish signals that could support risk assets.
Trump’s Crypto Windfall Draws Scrutiny
A separate Reuters report revealed that President Trump earned over $600 million in 2024, including millions from crypto ventures. His World Liberty token project alone netted $57.35 million, drawing criticism over potential conflicts of interest, especially as his administration’s policies have been viewed as crypto-friendly.
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