Crypto Market Rally Triggered By Potential US-Iran Deal
The market capitalization of all coins jumped by over 2% to $2.56 trillion. This rally was triggered in part by President Donald Trump‘s touting a potential deal between the US and Iran.
A US-Iran deal would be highly bullish for the crypto market because of its impact on inflation and the Federal Reserve. It would lower inflation, making it easier for the Fed to cut interest rates in the coming months.
That would be significant, as the Fed has signaled its willingness to raise interest rates should inflation remain elevated. In a Friday statement, Christopher Waller, a longstanding advocate of rate cuts, said he would support hikes if inflation stayed high.
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