[Evening News Briefing] Tensions Rise Following Israel's Airstrike on Iranian Military Targets, and More

Israeli military to "strik airstrikes on military targets in western and central Iran"

According to O'Daily, the Israeli military announced that the Israeli Air Force conducted airstrikes on Iranian regime military targets in western and central Iran.

This announcement came amidst ongoing military tensions between Israel and Iran.

Iran warns of greater blow if Israel takes further action

Iran has completed military preparations for further actions by Israel and warned that it would launch a larger strike if tensions escalate.

The source is Odaily. Iran's Tasnim news agency reported on the 7th, citing military sources, that a significant number of missiles are on standby and could immediately strike a wider range of targets within Israeli-controlled areas if Israel responds to Iran.

The source emphasized that Israel must take this warning seriously, noting that Iran is preparing for the possibility of a widespread military conflict.

Israeli Defense Officials: “Monday’s Engagement Could Escalate to War Level”

According to O'Daily, Israel Today reported that Israeli defense officials believe Monday's fighting could escalate to the level of war.

Officials predicted that the conflict between Israel and Iran could continue for several days. Geopolitical risks in the Middle East are cited as a variable that could affect investor sentiment toward global risk assets.

Explosion at Karun petrochemical complex in Khuzestan province, Iran

O'Daily reported that an explosion occurred at the Karun petrochemical complex in Iran's Khuzestan province.

An official from the Iranian provincial government confirmed that part of the Karun petrochemical complex was damaged by an Israeli missile attack.

This report is cited as a factor that increases the possibility of greater volatility in energy and raw materials markets amidst ongoing military tensions in the Middle East.

Korea Exchange Triggers Circuit Breaker as KOSPI Drops 8%

According to O'Daily, the Korea Exchange triggered a circuit breaker and suspended trading for 20 minutes as the KOSPI index fell 8%.

A circuit breaker is a system that temporarily suspends stock trading to mitigate market shock in the event of a sharp drop in the index.

Korea Exchange Triggers Circuit Breaker Due to KOSDAQ Plunge

According to O'Daily, the Korea Exchange triggered a circuit breaker due to a sharp drop in the KOSDAQ index and suspended trading for 20 minutes.

The KOSDAQ index fell 8%. A circuit breaker is a system that temporarily suspends trading to allow investors time to make decisions during sudden market changes.

Goldman Sachs Excludes Fed from Forecast of Interest Rate Cut This Year

Goldman Sachs has removed the possibility of a Federal Reserve interest rate cut this year from its existing forecast, reflecting stronger-than-expected trends in the U.S. labor market.

According to O'Daily, Goldman Sachs economists have pushed back their forecast for the Fed's last two interest rate cuts from the previous December 2026 and March 2027 to June and December 2027.

Merrick, Goldman Sachs' chief U.S. economist, viewed the likelihood of inflation becoming significantly entrenched again as low, and considered the possibility of an interest rate hike to be limited. However, he raised the probability of a small rate hike from 10% to 20%.

Goldman Sachs forecasts two 25bp interest rate cuts next year under its base scenario, but lowered the probability from 40% to 30%. It also lowered its forecast for the U.S. unemployment rate this year from 4.6% to 4.4%.

Syscoin Cross-chain Bridge Security Incident Occurs

According to O'Daily, Syscoin announced that approximately 5 billion SYS were involved in a security incident on the cross-chain bridge via X.

It was determined that the attacker exploited a verification issue in the bridge processing to generate unauthorized SYS output on the UTXO side.

Syscoin has currently suspended the bridge and requested exchanges and partners to blacklist, freeze, or monitor SYS deposits related to contaminated UTXO paths and subsequent expenditures.

Ciscoin stated that it has identified the affected verification paths and devised a fix, and advised users not to use the relevant functions during the bridge outage.

BIT: “Net Outflow of $5-6 Billion from Stablecoins Over the Last 30 Days”

PANews reported, citing BIT analysis, that the liquidity base of the cryptocurrency market is weakening as net outflows of stablecoins continue.

According to analysis, the net outflow of stablecoins over the past 30 days is estimated at approximately $5 billion to $6 billion. While increased stablecoin supply supported market liquidity during the bull market, a slowdown in capital inflows and increased volatility are currently occurring simultaneously.

BIT predicted that the sideways trend of major cryptocurrencies, including Bitcoin, could continue until liquidity flows return.

JPMorgan: “Strategy Needs to Rebuild Dollar Reserves to Lower Bitcoin Sell-off Concerns”

According to O'Daily, JPMorgan analysts stated that Strategy may need to rebuild its dollar reserves to restore investor confidence and reduce concerns about future Bitcoin sell-offs.

They assessed that Strategy's recent sale of 32 Bitcoins was received as an unexpected signal by the market. It was analyzed that the company's current dollar reserves amount to only about 6.3 months' worth of dividend payments.

JPMorgan explained that Strategy holds 843,706 Bitcoins at an average purchase price of $75,699 and is reporting a book loss of approximately $11.5 billion at current prices.

It also projected that the likelihood of cryptocurrency-related legislation passing this year is less than 50%. However, it added that Strategy's dividend strategy and the processing of the cryptocurrency market structure bill could act as major variables for the market recovery in the second half of the year.