The US-Iran conflict escalation impacts global markets: oil prices surge, Asian stock markets decline, Bitcoin remains steady at $66,000

March 2 News: Due to the escalation of conflicts between the United States and Iran, global financial market sentiment has become tense. Asian stock markets generally declined on Monday, international oil prices surged significantly, and although the cryptocurrency market experienced a correction, Bitcoin remained around $66,000, showing some resilience.

Data shows that during the Asian morning trading session, Bitcoin slightly retreated by about 1% in the past 24 hours, trading around $66,700; Ethereum fell approximately 2%, trading around $1,970. Over the weekend, as the Middle East situation rapidly worsened, Bitcoin fluctuated between $63,000 and $66,000.

Geopolitical risks have become a key trigger for this market volatility. Reports previously indicated that during a joint U.S.-Israel airstrike targeting Iran, Iran’s Supreme Leader Ali Khamenei was suspected to have been attacked and killed. Subsequently, U.S. President Donald Trump stated on social media that the U.S. would retaliate against casualties involving U.S. troops in the Middle East, further intensifying market tension.

Analysts note that the cryptocurrency market remained active over the weekend, serving as an important channel for investors to digest sudden macro risks. Dominick John believes that as traders gradually absorb the conflict news, Bitcoin’s price quickly rebounded from short-term support levels, demonstrating the advantage of 24/7 liquidity in the digital asset market.

In contrast, traditional markets reacted more sharply after opening on Monday. The Nikkei 225 index in Japan dropped over 2.5% intraday, the Topix index fell nearly 3%; Hong Kong’s Hang Seng Index and Singapore’s Straits Times Index both declined about 2%, and Taiwan’s Weighted Index retreated approximately 0.9%.

Meanwhile, energy markets experienced significant volatility. Brent crude oil prices rose over 7% in Asian morning trading, reaching about $78 per barrel; gold also increased by approximately 1.9%. Researcher Rick Maeda pointed out that oil prices are a key variable transmitting geopolitical shocks to financial markets. If oil prices break through and stabilize above $90, inflation expectations could rise, strengthening the dollar and real yields, which would put pressure on risk assets like Bitcoin.

Markets are also closely watching the situation in the Strait of Hormuz. This passage accounts for about 20% of global oil transportation. If shipping is disrupted, energy prices and global inflation expectations could further increase.

However, on-chain data and derivatives indicators suggest that the cryptocurrency market has not yet shown systemic stress. Rick Maeda noted that stablecoins have not exhibited obvious de-pegging signs, and there has been no large-scale forced liquidation, indicating that current volatility is more driven by macro events rather than internal industry risks.

Analysts believe that future Bitcoin trends will be closely related to oil prices, inflation expectations, and developments in the U.S.-Iran situation. Until macroeconomic directions become clearer, volatility in the digital asset market may remain elevated.