FX.co ★ Bitcoin Falls to Two-Week Low

Bitcoin experienced a decline, reaching approximately $103,700, marking its lowest point in two weeks. This downturn is attributed to heightened geopolitical tensions and prevailing economic uncertainties, which have spurred a risk-averse attitude in the markets. The situation intensified with Israel's preemptive military action against Iran, along with its declaration of a special alert status, escalating the potential for an imminent Iranian counteraction. Compounding market unease, President Donald Trump raised the prospect of imposing new tariffs as the deadline for trade agreements looms in early July. Concurrently, at the Coinbase State of Crypto Summit, President Trump emphasized initiatives to foster innovation in digital finance. He announced a strategic partnership with Congress on the GENIUS Act, aimed at bolstering dollar-backed stablecoins, and committed to establishing clear regulatory frameworks to maintain US dominance in the cryptocurrency, particularly Bitcoin, markets. In a separate development, disappointing economic indicators from the US are increasing speculation that the Federal Reserve may adopt a more accommodative monetary policy stance, a move typically seen as favorable for Bitcoin.