<\/p>\n\n\n\n
Bitcoin fell on Monday, continuing its decline from the weekend as heightened concerns over the Israel-Iran conflict kept risk appetite subdued. The world’s largest cryptocurrency slipped 1.3%<\/strong> to $101,501.8<\/strong> by 01:35 ET (05:35 GMT)<\/strong>, briefly dropping to as low as $99,000<\/strong> on Sunday. This marks the first time in June that Bitcoin has broken below its previously stable range of $103,000 to $108,000<\/strong>, though it managed to hold onto the $100,000<\/strong> level.<\/p>\n\n\n\n The broader cryptocurrency market<\/strong> also showed signs of weakness as traders flocked to the U.S. dollar<\/strong> for safety, reflecting the increased uncertainty surrounding the escalation of geopolitical tensions.<\/p>\n\n\n\n U.S. Strikes Iranian Nuclear Sites, Awaiting Tehran\u2019s Response<\/strong><\/p>\n\n\n\n The downturn in cryptocurrency prices coincided with the U.S. airstrikes<\/strong> over the weekend, which targeted three key Iranian nuclear facilities<\/strong>. President Donald Trump<\/strong> claimed the strikes had successfully destroyed the sites, though these claims were not immediately verified. The United Nations\u2019 nuclear watchdog<\/strong> reported no immediate rise in radiation levels at the facilities.<\/p>\n\n\n\n Nevertheless, Iran<\/strong> condemned the attacks, vowing severe retaliation. Media reports have suggested that Tehran<\/strong> may block the Strait of Hormuz<\/strong>, a critical global shipping route that sees a significant portion of the world’s oil shipments. If this happens, it could disrupt global oil supplies, causing crude prices to spike.<\/p>\n\n\n\n The sharp rise in oil prices on Monday further fueled inflationary concerns, particularly over energy costs, raising fears that global interest rates<\/strong> could remain elevated for a longer period. This has added to the broader sense of risk aversion, with Bitcoin<\/strong> and other speculative assets, like cryptocurrencies<\/strong>, suffering in response.<\/p>\n\n\n\n Crypto Markets Under Pressure from Hawkish Fed and Geopolitical Tensions<\/strong><\/p>\n\n\n\n Although cryptocurrencies are not directly impacted by geopolitical events, their speculative nature<\/strong> makes them highly sensitive to shifts in market sentiment. Last week, hawkish comments from the U.S. Federal Reserve<\/strong> added pressure to the crypto market, with fears mounting that interest rates<\/strong> will stay higher for longer, keeping inflationary pressures in check.<\/p>\n\n\n\n Broader crypto prices<\/strong> tracked Bitcoin\u2019s weakness, with investors cautious ahead of upcoming U.S. Federal Reserve<\/strong> remarks. Fed Chair Jerome Powell<\/strong> is set to testify before Congress starting Tuesday<\/strong>, and market participants will be closely watching for any signals regarding future rate cuts.<\/p>\n\n\n\n Among major cryptocurrencies, Ether<\/strong> fell 1.9%<\/strong> to $2,247.59<\/strong>, while XRP<\/strong> dropped 2.5%<\/strong> to $2.0299<\/strong>. Cardano<\/strong> and Solana<\/strong> also saw losses of over 1%<\/strong>, while Dogecoin<\/strong> and $TRUMP<\/strong> fell by 1.3%<\/strong> and 1.6%<\/strong>, respectively.<\/p>\n\n\n\n With global markets on edge due to ongoing geopolitical concerns and tightening monetary policy, cryptocurrency prices remain under pressure, keeping investors in wait-and-see mode for further developments.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin fell on Monday, continuing its decline from the weekend as heightened concerns over the Israel-Iran conflict kept risk appetite subdued. The world’s largest cryptocurrency slipped 1.3% to $101,501.8 by 01:35 ET (05:35 GMT), briefly dropping to as low as $99,000 on Sunday. This marks the first time in June that Bitcoin has broken below …<\/p>\n","protected":false},"author":9,"featured_media":98174,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,6827,49,36],"tags":[],"class_list":["post-115732","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/115732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=115732"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/115732\/revisions"}],"predecessor-version":[{"id":115733,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/115732\/revisions\/115733"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/98174"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=115732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=115732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=115732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}