Odaily Odaily that the crypto market hopes to shake off months of geopolitical pressure this week. Bitcoin rose to nearly $66,000 on Monday, up about 3.5% from Friday, following the announcement of a temporary peace agreement between the US and Iran; crypto-related stocks such as Strategy (MSTR) and Galaxy Digital (GLXY) also rose in pre-market trading.
However, the market remains cautious. Ceasefire agreements have broken down many times in history. The ceasefire in April failed to last, and the US military action last month also led to the interruption of another ceasefire, which once dragged down the price of crypto assets.
This week's focus will shift to the Federal Reserve's interest rate decision. On Wednesday, Federal Reserve President Kevin Warsh will chair the first interest rate meeting, with the market expecting rates to remain unchanged in the 3.50%-3.75% range.
Analysts point out that the latest "dot plot" (showing Federal Reserve officials' interest rate expectations) and the shortened trading hours due to Friday's Juneteenth holiday in the US may reduce market liquidity. This week's economic data and Fed policy guidance will determine whether the crypto market can capitalize on easing geopolitical risks to achieve further gains. (CoinDesk)
