In an unexpected move, President Trump authorized airstrikes on three Iranian nuclear facilities using B-2 bombers, causing a significant downturn in the value of cryptocurrencies. The coming hours and days are critical, as Iran’s potential retaliation towards U.S. bases in the region could escalate tensions further. Concurrently, Israel has implied an end to its attacks following the strikes on the facilities. Amid these developments, there is growing curiosity about the key events that could influence cryptocurrency markets in the upcoming days.
International and Economic Impacts
Following the global trade wars, the world now faces the looming threat of a third world war. After winning the elections on promises of lower inflation, reduced government spending, and a peaceful U.S., Trump has drastically shifted course. He now seems willing to risk the country’s economy for the benefit of Israeli interests. If Iran were to close the Strait of Hormuz in response, it could drive oil prices above $100. An attack on U.S. bases could spark a large-scale conflict lasting years. The U.S. is at a pivotal point, confronted with the significant threats of massive war expenditures, inflation fueled by rising oil prices, and an ongoing recession risk.
Upcoming Events in the Crypto Calendar
Throughout the week, potential Iranian attacks on the Strait of Hormuz and U.S. bases in the region will be closely monitored. The Fed officials’ speeches, including Chair Powell’s testimony and various economic indicators, will provide further insight into the week’s developments. Key events include:
June 23, Monday
- Potential Iranian attacks to be monitored throughout the week.
- 17:00 Bowman from the Fed will speak.
- 20:10-21:30 Statements from 3 Fed members.
June 24, Tuesday
- 17:00 Fed Chair Powell will testify before the Senate Banking Committee.
- 17:00 U.S. CB Consumer Confidence (Expectation: 99 Previous: 98).
- 19:30 Fed/Barr.
- 21:00 Fed/Collins.
June 26, Thursday
- 15:30 U.S. GDP Quarterly (Expectation and Previous: -0.2%).
- 15:45 and 16:00 Fed/Barkin and Hammack.
June 27, Friday
- 15:30 U.S. Core PCE (Expectation: 2.6% Previous: 2.5%).
- U.S. PCE (Expectation: 2.3% Previous: 2.1%).
- 17:00 Michigan Sentiment (Expectation and Previous: 60.5).
Iran claims minimal damage, while Israel asserts that their objective of striking nuclear facilities has been achieved. As the unstable tooth seems to have been extracted by the U.S. and Israel, negotiations could resume. Should there be no attacks on U.S. bases, Trump might ask Israel to halt its offensive actions. If the scenario of a world war is avoided, and the statements by officials are accurate, it is reasonable to believe fear and panic have peaked, leading to an eventual stabilization in the markets.
Throughout the week, the possibility of Iran eliminating the chance for negotiation by attacking U.S. bases will be closely watched. While this seems like a low probability, it cannot be ruled out. Powell’s two-day Senate testimony and Friday’s PCE data will reveal inflation’s stance. Another eventful week is beginning for cryptocurrencies.
