According to Fox News, Alaska lawmakers have announced a 'victory' as federal authorities begin reversing the Biden administration's rule that restricted oil and gas development in the Arctic National Wildlife Refuge (ANWR) (source: Fox News, June 3, 2025). This move is expected to boost U.S. domestic oil production, potentially lowering energy prices and increasing capital flows into energy-related stocks. For cryptocurrency traders, this policy reversal could impact Bitcoin and Ethereum by influencing inflation expectations and risk sentiment in global markets, as lower oil prices often correlate with shifts in crypto asset inflows (source: Fox News, June 3, 2025). The development is seen as a key indicator for traders monitoring correlations between energy sector news and crypto price volatility.

According to The White House (@WhiteHouse), President Donald J. Trump reaffirmed the strong US-Saudi relationship during a meeting with Crown Prince Mohammed bin Salman, stating it was an honor to spend several days together. This public display of diplomatic ties may signal increased cooperation on energy policy, which could influence global oil prices. Rising oil prices historically lead to increased volatility in Bitcoin and Ethereum as traders hedge against currency inflation and geopolitical risk (source: The White House, May 14, 2025). Crypto traders should closely watch further US-Saudi policy announcements for potential market-moving catalysts.