The crypto market faces a volatile week ahead as the tensions between the US and Iran escalate after new strikes in Kuwait. The recent sell-off across AI and semiconductor chip stocks is also affecting demand for risk assets ahead of the July 28 FOMC decision.
These bearish macro factors are fuelling a risk-off sentiment among crypto traders despite Bitcoin (BTC) holding $64,000 while Ethereum (ETH) is defending $1,800.
Escalating US-Iran Tensions Could Weigh on Crypto Market
The US launched its seventh night of strikes on Iran on July 18. In response, Iran struck a power generation and water desalination plant in Kuwait, according to Kuwait’s Ministry of Electricity, Water and Renewable Energy.
