Market sentiment took a hit today as traders grappled with twin headwinds: escalating Iran tensions and renewed concerns about Federal Reserve independence. Geopolitical risks in the Middle East typically trigger flight-to-safety moves, pressuring risk assets including equities and crypto holdings. Meanwhile, questions surrounding the Fed's autonomy continue to weigh on investors—particularly regarding whether political pressure could influence monetary policy decisions. For crypto market participants, these macro dynamics matter significantly. Historically, geopolitical uncertainty and inflation concerns drive investors toward alternative stores of value. Similarly, Fed policy direction directly impacts liquidity conditions and real rates, which influence how capital allocates across asset classes. When markets worry about policy predictability and external shocks, volatility tends to spike across both traditional and digital assets. Today's pullback reflects investors reassessing risk exposure in this uncertain environment.