In the past 24 hours, Bitcoin and Ethereum slipped 1.06% and 2.29%, respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin and Cardano dropped up to 4%, whereas Hyperliquid was up 2.10%.
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Geopolitical tensions have amplified volatility across global markets, and crypto has not been immune. Over the weekend, Bitcoin briefly slipped to $63,000 amid escalating conflict in the Middle East but quickly recovered near $66,500, showing remarkable structural resilience, according to Riya Sehgal, Research Analyst, Delta Exchange.
When US markets reopen on Monday, traders will closely watch how equities react to geopolitical developments, a key driver that could define crypto’s next directional move, and if the tensions ease, March could usher in a relief rally, Sehgal further said.
The global crypto market capitalisation edged down 1.23% to $2.3 trillion on Monday, according to CoinMarketCap.
Akshat Siddhant, Lead quant analyst, Mudrex, said the crypto market saw a strong price swing in both directions over the weekend and initial geopolitical tensions following the US–Israel strike on Iran triggered a sell-off, but prices quickly stabilised as buyers stepped in.
In the past week, Bitcoin and Ethereum were up 3.03% and 6.07%, respectively. Among the major altcoins, BNB, XRP, Solana, Dogecoin, Cardano and Hyperliquid went up over 16%, whereas Tron was down 1.95%.
Vikram Subburaj, CEO, Giottus said Bitcoin was trading around $66,000 on March 1 and holding broadly within the $65,000-$68,000 band. US spot Bitcoin ETFs were closed over the weekend, and price discovery was largely confined to offshore derivatives venues and spot exchanges, which produced muted volatility rather than directional conviction.
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Market perspective
CoinSwitch Markets Desk
BTC rebounded toward $68K after reports confirmed Iran’s supreme leader had been killed during a US–Israel military campaign, recovering from a near 4% drop the previous day. Despite the bounce, traders remain cautious.
Nischal Shetty, Founder, WazirX
Heightened global geopolitical tensions and a spike in oil prices briefly triggered risk-off sentiment, leading to short-term pressure on crypto as investors rotated toward safer assets.
Overall, while macro pressures are creating short term caution, institutional participation and capital inflows suggest resilience beneath near term market fluctuations.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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