Bitcoin Holds Gains Amid Iran-Israel Tensions, Trump Media Files for Crypto ETF

Bitcoin saw modest gains on Tuesday, climbing 0.5% to $107,066.1 as investors digested reports of potential ceasefire talks between Iran and Israel. However, the crypto market remains cautious, with risk appetite subdued ahead of this week’s Federal Reserve meeting. Despite brief optimism over diplomatic efforts, the Iran-Israel conflict shows few signs of cooling, especially after former U.S. President Donald Trump called for the evacuation of Tehran. The White House later clarified that the U.S. does not plan to intervene directly, offering limited reassurance to jittery markets.

While geopolitical tensions have minimal direct impact on crypto fundamentals, their speculative nature makes digital assets highly sensitive to shifts in investor sentiment. Market volatility also persisted due to uncertainty around Fed rate policy. Traders are widely expecting the Fed to hold rates steady, but commentary from Chair Jerome Powell could influence market direction.

Bitcoin continues to trade within a narrow range seen throughout June, reflecting indecision among investors. Meanwhile, the broader crypto market showed mixed moves. Ether slipped 1.1% to $2,579.99, Cardano and Solana dropped between 1.5% and 2%, and Dogecoin fell 2%. XRP bucked the trend, gaining 2.6% to $2.2370. Polygon dipped 1.2%, while the meme token $TRUMP plunged 4%.

In a notable development, Trump Media & Technology Group submitted an application to the SEC for a new crypto ETF investing in both Bitcoin and Ether. This comes shortly after the company filed for a spot Bitcoin ETF earlier in June. The move has raised concerns about potential conflicts of interest, given Trump’s influence over U.S. crypto policy. With competition intensifying in the ETF space, the success of Trump Media’s crypto offerings remains uncertain.