Crypto Market Faces Turbulence Amid US-Iran Tensions as Key Events Loom

The cryptocurrency market has experienced turbulent times due to escalating tensions between the US and Iran. The recent US bombing of targets in Iran, which followed an alleged Iranian attack on merchant ships in the Strait of Hormuz, has led to a slight recovery in the crypto market. Bitcoin, the world's largest cryptocurrency, has gained 2.13% in value over the past week.

Despite this volatility, several key economic developments and altcoin events are scheduled for the upcoming week. On Monday, July 13, various events will take place, including the testing of CC, DTCC tokenization service on Canton, Metaplanet's completion of its acquisition of Siiibo Securities Co., and Maple's release of its MIP-021 proposal.

The UK's Financial Conduct Authority (FCA) is also proposing to allow licensed funds to allocate up to 10% of their portfolios to crypto ETNs, with a deadline for comments on the same day. Other notable events include WebX 2026 starting and the CRED token being offered for sale as part of a community sale on MetaDAO.