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Crypto market surges to US$2.38T as Middle East tensions ease: What comes next

Crypto market surges to US$2.38T as Middle East tensions ease: What comes next

The crypto market’s 1.65 per cent climb to US$2.38 trillion over the last 24 hours represents more than a simple bounce. This movement signals a market increasingly attuned to macro liquidity shifts and geopolitical risk premiums. The strong correlation figures, 77 per cent with the S&P 500 and 72 per cent with Gold, confirm that digital assets now move within a broader financial ecosystem. This is not isolation. This is integration.

My perspective has long been that crypto’s maturation would be measured by its sensitivity to traditional macro drivers, and today’s action validates that thesis. The relief rally triggered by easing tensions in the Middle East did not occur in a vacuum. It reflected a rapid recalibration of capital flows away from inflation hedges and toward growth-oriented risk assets.

The primary catalyst remains the sharp retreat in oil prices, which fell 30 per cent from recent highs following direct intervention from US President Donald Trump. His warning that Iran would face consequences twenty times harder if it blocked the Strait of Hormuz altered the risk calculus for energy markets. This shock reduced a key input to inflation, thereby boosting sentiment across equities and crypto simultaneously.

The capital rotation out of oil and into perceived growth assets like digital tokens demonstrates crypto’s evolving role as a liquidity barometer. I view this as evidence that the market is pricing in geopolitical risk with increasing sophistication. This sensitivity cuts both ways. A renewed spike in oil could just as quickly reverse today’s gains, underscoring the fragile nature of relief-driven rallies.

Beyond the macro catalyst, the rally displayed impressive breadth through sector rotation and institutional participation. The Gaming Guild narrative led the charge with its market cap surging 8.7 per cent. This move coincided with a 12.5 per cent weekly rise in the Altcoin Season Index, signalling a rotation into higher-beta assets.

Such behaviour indicates that the speculative appetite is returning, but now coupled with institutional conviction. Spot Bitcoin ETFs saw renewed inflows, highlighted by Strategy’s major US$1.28 billion purchase. This combination of retail speculation and institutional accumulation creates a more durable foundation for price appreciation. This duality represents the market’s healthy evolution, in which the motives of diverse participants converge to create momentum.

The technical landscape provides clear levels to monitor to confirm this rally’s sustainability. The total crypto market cap faces immediate resistance at the 23.6 per cent Fibonacci retracement level of US$2.4 trillion. For Bitcoin, a decisive reclaim of the US$72,000 level remains crucial. Failure to hold above these thresholds could trigger a retest of support near US$2.33 trillion. These technical markers matter because they reflect the collective psychology of market participants. I have always maintained that technical analysis in crypto is not about predicting the future but about understanding the present balance of fear and greed. The current Fear Index reading of 25 suggests sentiment remains cautious despite the price advance, which often precedes further upside if momentum builds.

Regulatory developments present the most significant near-term catalyst. The US Senate’s discussion of a major crypto market bill on March 11 at 2:30 PM ET could provide the clarity needed for the next leg higher. I have consistently argued that regulatory uncertainty remains the largest overhang on crypto valuations in traditional financial jurisdictions.

A positive signal from this discussion could unlock substantial institutional capital currently waiting on the sidelines. Any hint of restrictive language could dampen the relief rally’s momentum. This binary outcome underscores why I emphasise monitoring policy developments alongside technical and macro factors. The market’s reaction tomorrow will reveal whether participants view regulation as a catalyst for growth or a constraint on innovation.

Global market context further illuminates the crypto move. US equity markets finished a volatile session mostly lower, with the S&P 500 falling 0.21 per cent to close at 6,781.48. The Dow Jones Industrial Average dipped 34.29 points to end at 47,706.51, while the Nasdaq Composite managed a marginal gain of 0.01 per cent to close at 22,697.10. This divergence between crypto’s advance and equity’s retreat highlights the unique drivers of digital assets.

Meanwhile, Asia-Pacific markets are poised for a stronger open, with equity futures for Tokyo, Hong Kong, and Sydney pointing to modest gains. In Australia, the latest Westpac Card Tracker data shows moderating momentum in domestic spending at 0.7 per cent quarter over quarter, compared to stronger international transactions at 5.1 per cent quarter over quarter. Europe faced a sharp sell-off earlier in the week, driven by the energy crisis and weak German industrial orders, which fell 11.1 per cent in January. This global patchwork of performance reinforces my view that crypto increasingly serves as a barometer for cross-border capital flows rather than any single regional economy.

Looking ahead, several data points will shape the market’s trajectory. The US Consumer Price Index for February is due at 8:30 AM ET, with economists anticipating a headline rise of 2.4 per cent year over year. This inflation reading could influence expectations for Federal Reserve policy and, by extension, liquidity conditions for risk assets.

Additionally, the EIA Petroleum Status Report will provide further clarity on crude oil inventories following reports of potential emergency reserve releases. On the corporate front, Oracle Corp shares jumped eight per cent in after-market trading Tuesday following a revenue beat, which may support tech sentiment today. I consider these traditional market signals essential for interpreting crypto’s next moves because the lines between digital and traditional finance continue to blur.

My conclusion remains cautiously optimistic. Today’s rally was a classic relief move, fuelled by receding geopolitical fears and amplified by sector rotation and institutional flows. The fact that sentiment remains in Fear territory with an index reading of 25 suggests the bounce has room to run if catalysts align. I never confuse short-term momentum with long-term conviction.

The near-term trajectory could pivot on tomorrow’s Senate discussion. Will it provide the regulatory clarity needed for the next leg up? Or will it reinforce the uncertainty that has capped crypto’s integration into traditional portfolios? I believe the answer will determine whether this relief rally evolves into a sustained trend or fades as quickly as it appeared. 

 

Source: https://e27.co/crypto-market-surges-to-us2-38t-as-middle-east-tensions-ease-what-comes-next-20260311/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Crypto’s wake-up call: How a stronger dollar and US$113 oil are crushing risk assets

Crypto’s wake-up call: How a stronger dollar and US$113 oil are crushing risk assets

The crypto market’s recent 0.67 per cent decline to a total capitalisation of US$2.29 trillion reflects more than routine volatility. It signals a decisive macro-driven repricing, with digital assets now moving in lockstep with traditional risk indicators. Over the past week, Bitcoin and the broader crypto complex have maintained a 64 per cent correlation with the S&P 500, a clear signal that rates-sensitive capital is treating crypto as part of the same risk bucket as equities. This is not a crypto-specific story. It is a story about liquidity, inflation expectations, and how geopolitical shocks transmit through every corner of the global financial system.

The primary catalyst for this selloff stems from a sharp spike in oil prices and a surging US dollar. Escalating Middle East tensions, including direct US–Iran conflict, pushed Brent crude above US$113.7 per barrel, its highest level since 2022. West Texas Intermediate followed, surging as much as 22 per cent to over US$111 a barrel at the open. Simultaneously, the US Dollar Index gained 0.6 per cent as investors fled to safety. This dual shock creates a powerful headwind for risk assets. Higher energy costs feed inflation expectations just as labour market data shows unexpected weakness, with 92,000 jobs lost in February. A stronger dollar tightens global liquidity conditions, making dollar-denominated assets more expensive for international holders and pressuring valuations across the board. Crypto, with its high beta and sensitivity to liquidity flows, feels this pressure acutely.

Bitcoin itself fell 2.03 per cent, contributing over half of the total decline in market cap. This move was not random. Large holders, often called whales, distributed coins they had recently accumulated, adding supply to an already nervous market. Spot Bitcoin ETFs saw net outflows, compounding the selling pressure. The Fear and Greed Index reading of 18, labeled Extreme Fear, confirms that sentiment has turned decisively negative. When sentiment reaches these extremes, technical levels gain outsized importance. Bitcoin now tests the US$66,000 to US$66,500 support zone. A sustained break below this range opens the path toward US$63,700. Bitcoin dominance holding above 58 per cent suggests capital is not rotating aggressively into altcoins, which typically underperform in risk-off environments. This concentration of weakness in Bitcoin, the market’s anchor, drags the entire ecosystem lower.

The crypto selloff did not occur in isolation. Global markets moved in tandem, confirming the macro nature of the move. US equity futures plunged at the open, with Dow futures dropping over 800 points, roughly 1.8 per cent, and Nasdaq 100 futures sliding 1.9 per cent. Asian markets reflected similar stress, with the Nikkei 225 tumbling 6 per cent toward the 52,000 level, hitting an eight-week low amid Japan’s high dependence on Middle Eastern oil. Even gold, traditionally a safe haven, fell 1.4 per cent to US$5,099 an ounce in early spot trading, suggesting that liquidity needs are forcing investors to sell what they can, not just what they want to. This broad-based risk-off move underscores that crypto is no longer an island. It trades as part of a global macro tape, where oil, the dollar, and equity volatility set the tone.

Behind these price moves lie concrete geopolitical and economic fundamentals. Escalating hostilities involving Iran have effectively halted traffic through the Strait of Hormuz, a critical chokepoint for 20 per cent of global oil consumption. This disruption threatens to rekindle inflation fears just as central banks weigh their next moves. The market now prices in a 97 per cent chance that the Federal Reserve will hold interest rates steady at its March 18 meeting, with any potential cuts pushed back toward late 2026. This shift in expectations matters profoundly for crypto, which thrives in environments of easy money and declining real yields.

Adding to the uncertainty, corporate developments, such as BlackRock limiting withdrawals from its US$26 billion private credit fund, sparked contagion fears, causing its shares to tumble seven per cent. While Broadcom’s 4.8 per cent jump on bullish AI chip forecasts offered a rare bright spot, it was not enough to offset the broader risk aversion. Meanwhile, China’s decision to set its 2026 GDP growth target at 4.5 per cent to five per cent, the lowest in decades, signals ongoing deflationary pressures and trade tensions that further complicate the global outlook.

Looking ahead, the near-term path for crypto hinges on two factors: oil price stability and the Federal Reserve’s tone on March 18. If energy markets calm and the Fed maintains a dovish stance despite inflationary pressures, crypto could find a floor near current levels. A sustained move above US$113 per barrel for oil would keep inflation expectations elevated, likely delaying rate cuts and maintaining pressure on risk assets.

Technically, Bitcoin’s ability to hold above US$66,000 remains the key level to watch. A decisive break below would likely trigger algorithmic selling and force leveraged positions to unwind, accelerating the move toward US$63,700. Traders should also monitor ETF flow data for signs of institutional accumulation or distribution, as these flows have become a reliable proxy for smart money sentiment in the current market structure.

This moment tests a core question for the crypto ecosystem: does it retain its narrative as an uncorrelated alternative asset, or has it matured into a risk-on instrument that trades with tech stocks and macro liquidity? Tell me about it. 

 

Source: https://e27.co/cryptos-wake-up-call-how-a-stronger-dollar-and-us113-oil-are-crushing-risk-assets-20260309/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

What Bitcoin’s US$70,000 support zone means for traders after this week’s volatility

What Bitcoin’s US$70,000 support zone means for traders after this week’s volatility

The cryptocurrency market just witnessed a powerful reminder of how leverage and sentiment can collide to create violent price moves. A sharp Bitcoin-led rally forced over-leveraged short sellers to cover, triggering around US$471 million in crypto derivatives liquidations across major exchanges within 24 hours. About US$471 million of futures positions were wiped out, with roughly US$348 million from shorts and US$123 million from longs as BTC pushed toward US$74,000.

This was not random noise. It was a classic short squeeze, fuelled by crowded bearish positioning, negative funding, rising open interest, and strong ETF inflows into BTC and ETH. I have seen this pattern repeat across cycles, and each iteration teaches the same lesson. When leverage builds on one side of the market, the reversal does not just correct the price; it resets positioning with force.

The scale of the flush matters because it reveals where the real risk lives. Data from derivatives trackers shows roughly US$471 million in crypto futures liquidations over 24 hours, with shorts taking the majority of the hit at about US$348 million versus US$123 million in longs, as Bitcoin and Ethereum ripped higher toward key resistance near US$74,000. This pattern matches reporting that a BTC surge to the mid-70,000s erased over US$500 million in leveraged positions, with the largest daily wipeout of shorts since late February in some samples.

The pain concentrated in major coins such as Bitcoin, Ethereum, and other large caps, where leverage runs deepest. That tells us the move was big enough to reset a lot of leveraged positioning, not just a minor intraday shakeout. When the largest shorts get squeezed in the most liquid names, the signal travels fast through the entire derivatives complex.

Behind the numbers sat a textbook setup. After recent macro and geopolitical volatility, many traders rebuilt short exposure, with funding rates turning negative and open interest climbing as BTC dipped into the mid-60,000s. When spot prices reversed higher amid renewed ETF inflows and easing macro fears, exchanges’ risk engines began liquidating underwater shorts into a rising market, forcing additional buy orders and accelerating the upside.

Similar dynamics played out on ETH, where more than US$100 million in shorts were liquidated in a day, compared with a much smaller amount of long liquidations. Bears leaning too hard into downside with high leverage can turn into forced buyers, amplifying rallies beyond what spot demand alone would justify. I view this as a structural feature of modern crypto markets, not a bug. Derivatives and ETF flows now act as powerful amplifiers, and anyone trading without watching funding rates and open interest is flying blind.

This squeeze did not happen in isolation. Global markets on 6 March 2026 were dominated by risk-off sentiment as the conflict among the US, Israel, and Iran drove a broad retreat in risk assets. While US stock futures showed some stability early in the day, Asian and European equities fell sharply, heading toward their steepest weekly losses in years. US major indices closed lower on Thursday due to soaring oil prices and geopolitical fears. The Dow Jones dropped 784.67 points to close at 47,954.74. The S&P 500 declined 0.56 per cent to 6,830.71. The Nasdaq Composite slipped 0.26 per cent to 22,748.99.

Overseas, the MSCI Asia Pacific Index fell 1.1 per cent on Friday, marking its worst week in six years. Japan’s Nikkei 225 fell 0.66 per cent to 54,915 points. In Europe, major indices such as the FTSE 100, DAX, and CAC 40 declined by 1.5 per cent to 1.6 per cent amid ongoing energy disruption fears. Oil prices anchored the move, with WTI crude surging above US$80 per barrel following reports of an Iranian strike on an oil tanker and the closure of the Strait of Hormuz. Rising energy and labour costs fuelled fears that the Federal Reserve would maintain high interest rates to combat sticky inflation.

The US Dollar gained as a safe-haven, heading for its best week since 2024. Gold prices remained volatile, briefly hitting US$5,400 earlier in the week before settling near US$5,100 by Thursday. Investors awaited the US Non-Farm Payrolls and Retail Sales reports for February to gauge the health of the labour market. In that backdrop, Bitcoin’s initial surge toward US$74,000 stood out as a sharp counter-trend move before macro gravity reasserted itself.

Post-event, derivatives metrics suggest that some excess leverage on the short side has been cleared, with funding rates normalising and open interest stabilising slightly lower. Order book data still shows dense liquidity zones both above and below the current price, and prior episodes suggest that traders are quick to re-leverage once volatility cools.

For risk monitoring, the key signals are funding rates, especially if they flip extreme again, sharp jumps in open interest, and any renewed surge in ETF flows that could interact with crowded futures positioning. The immediate squeeze may be over, but this remains a high-leverage environment where sudden price moves and positioning shifts can still trigger large, fast liquidation cascades. I watch these signals closely because they often telegraph the next inflection before price confirms it.

Bitcoin now trades down 1.72 per cent to US$71,244.79 over the past 24 hours, underperforming a slightly weaker broader market, primarily driven by a risk-off shift amid escalating Middle East tensions. It shows a strong correlation of 0.86 with Gold, indicating a shared macro-driven move. The primary reason remains geopolitical risk from the US-Iran conflict, which spiked oil prices and triggered a flight from risk assets.

A secondary factor was technical rejection at the key US$74,000 resistance level, where selling pressure overwhelmed buyers. Near-term, if BTC holds above the US$70,000 to US$71,000 whale bid zone, it could retest US$74,000. A break below risks a move toward US$67,500. I see this range as the battlefield where macro narrative and derivatives positioning will duel for control.

What should readers take from this sequence?

  • First, the reported US$471 million liquidation wave resulted from an aggressive short buildup caught offside by a strong Bitcoin-led rebound, not from a structural failure in the market. It has cleared some speculative froth, and derivatives activity and ETF flows remain powerful amplifiers, so future positioning extremes could again translate into abrupt squeezes rather than smooth trend moves.
  • Second, in a world where oil can jump above US$80 on geopolitical headlines, and equities can post their worst week in years, crypto will continue to mirror macro risk while retaining its own leverage-driven volatility.
  • Third, independent analysis matters more than ever. Crowded narratives can flip fast when funding rates turn, open interest spikes, or ETF flows accelerate. I prefer to track the plumbing, not just the price.

With all that said, I expect volatility to remain elevated as markets digest geopolitical shocks, inflation data, and the ongoing tug-of-war between risk-on and risk-off flows. Bitcoin’s correlation with Gold at 0.86 reminds us that macro drivers can dominate in the short term, even for an asset built on decentralisation. The derivatives layer adds a crypto-native amplifier that can exaggerate moves in either direction. If funding rates flip extreme again or open interest jumps while price consolidates, prepare for another squeeze. 

 

Source: https://e27.co/what-bitcoins-us70000-support-zone-means-for-traders-after-this-weeks-volatility-20260306/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j