Digital Gold vs. Geopolitical Risk: BTC Recovers $68,000 Amid Escalating U.S.-Iran Conflict

TradingKey03-02 09:03

TradingKey - Escalating U.S.-Iran tensions spark a surge in safe-haven demand; Bitcoin briefly rebounds above $68,000 as gold prices break through $5,300.

During the early Asian trading session on March 2, cryptocurrencies turned from gains to losses, pulling back by over 1%, with total market capitalization falling to $2.28 trillion. Among them, Bitcoin (BTC) fell 0.76%, Ethereum ( ETH) fell 0.27%, and XRP (XRP) dropped nearly 1%.

Price performance of the top 10 cryptocurrencies by market cap, Source: CoinMarketCap

Yesterday, U.S. and Israeli forces launched airstrikes on Iran, resulting in the death of Iran's Supreme Leader Khamenei. As the U.S.-Iran war officially commenced, the crypto market surged collectively, with Bitcoin briefly breaking above $68,000 and reaching a high of $68,149.

Currently, Iran is gradually initiating retaliatory actions against the U.S. and Israel, but Bitcoin prices have failed to climb further and instead experienced a pullback, primarily because Bitcoin's safe-haven status remains significantly inferior to that of gold (XAUUSD).

Traditional financial markets were closed over the weekend, allowing the crypto market to attract capital inflows and drive a brief rebound in Bitcoin. This Monday, as traditional financial markets opened for trading, safe-haven demand pushed capital toward the gold market. As of press time, spot gold prices jumped over 1.5%, decisively breaking through $5,300 per ounce, marking a new high since January 30 this year.

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Among them, Bitcoin (</span><span>BTC</span><span>) fell 0.76%, Ethereum (</span><span> ETH</span><span>) fell 0.27%, and XRP (</span><span>XRP</span><span>) dropped nearly 1%.</span></p><p dir=\"ltr\"><img height=\"381\" src=\"https://resource.tradingkey.com/uploads/20260302/Crypto-marketcap-top10-a7f57b7a67f74df096becee73f15f2b7.png\" width=\"800\"/><span>Price performance of the top 10 cryptocurrencies by market cap, Source: CoinMarketCap</span></p><p dir=\"ltr\"><span>Yesterday, U.S. and Israeli forces launched airstrikes on Iran, resulting in the death of Iran's Supreme Leader Khamenei. 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Among them, Bitcoin (BTC) fell 0.76%, Ethereum ( ETH) fell 0.27%, and XRP (XRP) dropped nearly 1%.Price performance of the top 10 cryptocurrencies by market cap, Source: CoinMarketCapYesterday, U.S. and Israeli forces launched airstrikes on Iran, resulting in the death of Iran's Supreme Leader Khamenei. As the U.S.-Iran war officially commenced, the crypto market surged collectively, with Bitcoin briefly breaking above $68,000 and reaching a high of $68,149.Currently, Iran is gradually initiating retaliatory actions against the U.S. and Israel, but Bitcoin prices have failed to climb further and instead experienced a pullback, primarily because Bitcoin's safe-haven status remains significantly inferior to that of gold (XAUUSD).Traditional financial markets were closed over the weekend, allowing the crypto market to attract capital inflows and drive a brief rebound in Bitcoin. This Monday, as traditional financial markets opened for trading, safe-haven demand pushed capital toward the gold market. As of press time, spot gold prices jumped over 1.5%, decisively breaking through $5,300 per ounce, marking a new high since January 30 this year.Find out more","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2616808593","isCrawlerRequest":true}