Bitcoin tops $70K, XRP, Ether rise as traders shrug off Middle East tensions
Bitcoin surpassed $70,000, leading a market rally despite geopolitical tensions, with traders anticipating potential Fed easing.Summary
Bitcoin rose 6% on Monday, exceeding $70,000, driving a market-wide rally that also lifted Ethereum, BNB, and XRP, even as US-Iran tensions intensified. The market had previously dipped to $63,000 following reports of US-Israeli action against Iran but recovered after confirmation of Iran’s supreme leader’s death. BitMEX co-founder Arthur Hayes suggested that prolonged US military engagement could increase the likelihood of the Federal Reserve easing monetary policy, which he views as supportive of higher Bitcoin prices, citing historical precedents from the 1990s. However, Hayes advised caution, recommending investors wait for confirmed Fed rate cuts or liquidity expansion before deploying capital, as the Fed's ultimate response will depend on inflation and oil price dynamics.
(Source：Crypto Briefing)