Cryptocurrency Market Braces for Geopolitical Risks Amid US-Iran Peace Talks

The cryptocurrency market has been experiencing increased volatility due to the ongoing US-Iran conflict and the impending Federal Reserve rate decision. The FOMC meeting is expected to conclude today, with markets pricing 100% odds of keeping interest rates steady.

Bitcoin, Ethereum, and XRP traders will closely watch Fed Chair Jerome Powell's press conference for signals on future rate cuts, especially amid sticky inflation risks tied to elevated energy costs from the US-Iran war. A hawkish stance or delayed easing could strengthen the US dollar and pressure the crypto market.

Crypto Fear & Greed Index has slipped from 33 to 26 (fear) amid uncertainty in the crypto market. Altcoins such as Solana, BNB, Dogecoin, Hyperliquid, and Cardano are also wavering due to outflows from spot ETFs and massive crypto liquidations.

Bitcoin price jumped 2% in the past 24 hours, currently trading at $77,245. Ethereum (ETH) price also climbed 2% to $2,328 over the past few hours. XRP is trading at $1.39, up more than 1% ahead of Fed rate decision.