Bitcoin Rises Slightly Amid Market Caution
Bitcoin saw a small increase on Thursday but stayed within a narrow price range. Traders were cautious due to growing speculation about the U.S. possibly getting involved in the Israel-Iran conflict.
The Federal Reserve’s latest comments also made investors wary. The Fed kept interest rates steady and suggested fewer rate cuts in 2026, which dampened risk appetite in the market.
At 05:20 ET (09:20 GMT), Bitcoin was up 0.1% at $104,900. Over the past week, Bitcoin has traded between $103,000 and $108,000, especially after tensions between Israel and Iran escalated.
A Bloomberg report said U.S. officials were preparing for a possible strike on Iran, though it was unclear if it would happen.
Trump Supports Stablecoin Regulation
Former President Donald Trump praised the progress of the GENIUS Act, a bill that sets rules for stablecoins. The bill passed in the Senate, and Trump urged the House to approve it quickly.
“The House should move FAST and pass a clean GENIUS Act. Get it to my desk ASAP,” Trump said in a social media post.
The news boosted some crypto-related stocks, like Circle Internet (CRCL), as it showed Trump supporting pro-crypto policies.
Circle’s USDC and Tether’s USDT are the two largest stablecoins, widely used in crypto trading.
Altcoins Drop as Fed Signals Higher Rates for Longer
Most other cryptocurrencies fell slightly after the Fed’s latest update. The central bank kept interest rates at 4.25%-4.5% and suggested fewer rate cuts in 2026.
Fed Chair Jerome Powell warned that Trump’s proposed tariffs could increase inflation, making it harder to cut rates soon.
As a result, riskier assets, including crypto, dipped:
- Ether (ETH) fell 0.1% to $2,526.50
- XRP held steady at $2.1577
- Cardano (ADA) and Solana (SOL) each dropped over 1%
Market uncertainty continues to keep crypto prices in check.
