First Mover Americas: Crypto Markets Reel on Geopolitical Risk

Jamie Crawley is a CoinDesk news reporter based in London.

Cautious comments from Chair Jerome Powell on the possibility of a rate cut in September were compounded by escalating tensions in the Middle East. Iran's leaders ordered retaliation against Israel for killing Hamas leader Ismail Haniyeh in Tehran, which may also have spooked investors and traders. Bitcoin traded around $64,500 during the European morning, about 2.5% lower than 24 hours ago. The broader digital asset market has dropped nearly 4.24%, as measured by the CoinDesk 20 Index .

Traders are taking another look at call options at the $100,000 strike expiring in September and December, indicating a bullish outlook.Source: Velo Data

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