Bitcoin and Ethereum prices face renewed pressure following escalating U.S.-Iran tensions. Bitcoin touched $70,000 this weekend as regional conflicts intensified without signs of ceasefire.
Strikes on Iran’s Kharg Island triggered fears of a global oil supply shock. Brent crude futures climbed past $106, raising inflation risks that complicate the upcoming FOMC meeting.
Analysts caution the Federal Reserve may delay rate cuts due to surging energy costs. Conversely, veteran trader Peter Brandt forecasts a potential relief rally toward $88,000 despite broader bear market warnings.
