• The crypto market is down over 2% today as inflation risk from the Iran grows.

• Crypto traders are predicting that the Fed won’t make any rate cut this year.

• Fed Chair Jerome Powell warned that the war will drive inflation higher.

The crypto market is down today and facing renewed pressure as inflation concerns grow due to the U.S.-Iran war, which is sending oil prices to new highs. With inflationary pressure on the U.S. economy mounting, crypto traders are now pricing out Fed rate cuts this year, a development that is bearish for crypto assets.

The total crypto market cap is down over 2% today, declining to $2.36…