TLDR
- Bitcoin fell to around $68,652, down 0.7% on Monday, as Iran war fears pushed investors away from risk assets.
- U.S. President Trump gave Iran a 48-hour deadline to reopen the Strait of Hormuz or face military strikes.
- Bitcoin has dropped over 20% year-to-date but is up about 6% in the past month.
- Key support sits at $67,250, with a larger drop possible toward $65,000 or even $63,500 if that breaks.
- Bitcoin spot ETFs recorded $95.18 million in net inflows from March 16–20, marking four straight weeks of inflows.
Bitcoin dropped to $68,652 on Monday, down 0.7% on the day, as growing fears around the U.S.-Israel conflict with Iran pushed investors out of riskier assets. The move extended losses from the weekend and pulled BTC further away from earlier monthly highs above $72,000.
The selloff was broad. Stocks, gold, and currencies all fell alongside crypto as markets reacted to rising tensions in the Middle East.
U.S. President Donald Trump issued a 48-hour ultimatum to Iran on Saturday, demanding the country reopen the Strait of Hormuz or face U.S. strikes on critical energy infrastructure. Iran responded by threatening to fully close the strait and hit key energy and water infrastructure across Gulf nations.
🚨 “If Iran doesn’t FULLY OPEN, WITHOUT THREAT, the Strait of Hormuz, within 48 HOURS from this exact point in time, the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST…” – President DONALD J. TRUMP pic.twitter.com/htLz1A0Mf7
— The White House (@WhiteHouse) March 22, 2026
The conflict has now entered its fourth consecutive week with no signs of slowing.
Where Bitcoin Stands Technically
Bitcoin broke below $71,200 and $70,000 earlier, bottoming out at $67,343 before a small recovery. It is now trading below the 100-hour simple moving average, with a bearish trend line forming at resistance around $69,200.
$BTC continues to form lower highs and lower lows.
The next dump towards the $50,000 level is just a matter of time. pic.twitter.com/nkMqhQIC17
— Ted (@TedPillows) March 22, 2026
To the upside, BTC needs to clear $69,200 and hold above $70,000 to shift near-term momentum. If it does, the next targets are $71,650 and $72,800.
If it can’t, the first support level to watch is $67,250. Below that, $66,500 and then $65,000 come into play. The $63,500 zone is seen as a key floor.
Bitcoin vs. Gold
Despite the drop, Bitcoin has held up better than gold over the past month. BTC is up around 6% in that period, while gold is down about 18% from its late-January record high, which was hit by a wave of profit-taking.
Gold also failed to attract safe-haven demand during the Iran conflict, partly because investors fear the war could drive up global inflation and interest rates.
Year-to-date, though, Bitcoin is still down over 20%, while gold is roughly flat.
Altcoins were also weak on Monday. Ether fell 2.2% to $2,061.77, XRP dropped 1.9% to $1.3853, and Dogecoin slipped 1.3%.
From March 16 to March 20 (ET), Bitcoin spot ETFs recorded net inflows of $95.18 million, marking four consecutive weeks of net inflows. Ethereum spot ETFs saw net outflows of $59.94 million. SOL spot ETFs recorded net inflows of $21.10 million, while XRP spot ETFs saw net… pic.twitter.com/oI6NJjhwZl
— Wu Blockchain (@WuBlockchain) March 23, 2026
Wu Blockchain reported that Bitcoin spot ETFs saw net inflows of $95.18 million between March 16 and March 20, marking the fourth consecutive week of positive flows into BTC ETF products.
