According to The Kobeissi Letter, China has officially called on Israel and Iran to take 'immediate' measures to de-escalate rising tensions, joining the US in advocating for a peace deal between the two countries (source: The Kobeissi Letter, June 16, 2025). Historically, such geopolitical developments have led to increased volatility in the cryptocurrency market, with assets like Bitcoin (BTC) and Ethereum (ETH) often experiencing price swings as investors seek safe-haven assets or react to risk sentiment. Traders should closely monitor crypto price action and liquidity, as further escalation or resolution could significantly influence BTC and ETH trading volumes and volatility.