TLDR
- Bitcoin recovered from a dip below $65,200 to trade near $67,500, while altcoins fell 3–8% on the week
- Trump told aides he may end the U.S. military campaign against Iran even if the Strait of Hormuz stays closed
- S&P 500 futures jumped 0.8% on the news; oil pulled back from $107 to around $103
- The S&P 500 is on its longest losing streak since 2022; MSCI Asia Pacific is heading for its worst month since 2008
- The total crypto market cap sits at $2.32 trillion, roughly unchanged over the past week, while the Nasdaq 100 dropped about 5%
Bitcoin traded at $67,545 on Tuesday morning after bouncing back from a dip below $65,200 on Monday. That earlier dip was its lowest level since the U.S.-Israeli war against Iran began in late February.
Ether held above $2,000 at $2,062, up 0.4% on the day. Solana fell 0.9% to $83.07, XRP dropped 2.2% to $1.32, and dogecoin slid 2.1% to $0.09. Solana and XRP led weekly losses in the top 10, down 8% and 6.4% respectively.
The broader crypto market cap sits at $2.32 trillion, roughly flat over the past week. In the same period, the Nasdaq 100 dropped around 5%.
BREAKING: President Trump is willing to end the Iran War even if the Strait of Hormuz remains closed, per WSJ.
Details include:
1. Trump and his aides assessed that a mission to reopen Hormuz would push the conflict beyond his timeline 4-6 weeks
2. Trump believes the US should…
— The Kobeissi Letter (@KobeissiLetter) March 31, 2026
The Wall Street Journal reported Monday that Trump told advisers he is willing to end the military campaign against Iran even if the Strait of Hormuz remains largely closed. The report said prying open the strait would push the conflict past his four-to-six week timeline.
Stock futures moved sharply higher on the news. S&P 500 futures rose 0.8%, Nasdaq 100 futures climbed 0.7%, and Dow Jones futures jumped 0.9%.
Oil gave back some gains after the report. West Texas Intermediate had earlier jumped to $107 before pulling back to around $103. Iran struck a Kuwaiti crude oil carrier in Dubai earlier in the session.
Stocks Under Pressure
The S&P 500 is now on its longest daily losing streak since 2022. MSCI Asia Pacific is on track for its worst month since the 2008 financial crisis. The CBOE Volatility Index has held above 30, a level that signals high market anxiety.
Treasuries extended gains and the dollar weakened against most G10 currencies during the session.
Federal Reserve Chair Jerome Powell said there is little chance of contagion in private credit, and signaled no immediate need for further rate hikes. Inflation pressures appear contained for now, according to his remarks.
Investors are watching Tuesday’s March consumer confidence reading and February’s Job Openings and Labor Turnover Survey for further clues on the economy.
Bitcoin Holding Steady Compared to Equities
JPMorgan noted that Bitcoin is weathering the Iran crisis better than gold and silver. Gold has seen an unusual losing streak during an active war period.
Alex Kuptsikevich, chief market analyst at FxPro, said: “Crypto has pulled back, but appears stronger than stocks.”
He added that the crypto market is finding support on dips to February lows and showing horizontal stabilization, while equities are forming a clear downtrend.
Bitcoin has spent the entire war trading between roughly $65,000 and $73,000. Monday’s dip below $65,200 and the quick recovery above $67,000 pointed to real demand at those lower levels.
WTI crude oil closed above $100 for the first time since 2022 as the conflict entered its fifth week.
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