The cryptocurrency market continues to face pressure despite minor price fluctuations. Investors are awaiting new comments from the Federal Reserve.
Market Overview
Today, Bitcoin (BTC) is priced at around $104,900, reflecting a 1.58% increase over the last 24 hours. Ethereum (ETH) has similarly gained, reaching $2,534. The total market capitalization stands at $3.26 trillion, indicating a 1.59% drop for the day. Among large cryptocurrencies, XRP increased by 2.96% to $2.15, and Solana rose by 2.86% to $147.54.
Geopolitical Impact
The escalation of conflict between Israel and Iran has driven oil prices higher, putting pressure on risk assets, including cryptocurrencies. Traders prefer to exercise caution ahead of the anticipated speech by Jerome Powell, the chair of the Fed.
Regulatory News and Crypto Future
The governor of South Korea's central bank, Rhee Chang-yong, is not against won-denominated stablecoins, but voiced concerns about their impact on forex management. Meanwhile, at the Shanghai forum, plans were discussed to expand the use of e-CNY internationally. In the U.S., the Senate has passed a bill creating the first federal rules for dollar-pegged stablecoins, which is now headed to the House.
Traders and analysts continue to monitor developments in both the cryptocurrency market and the global political landscape, believing it will help them better adapt to changes in the market environment.
