Crypto World
Bitcoin May Follow Oil With A Rally To $79K
Key takeaways:
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Oil price spikes often precede 20% spikes in Bitcoin value, though initial market reactions remain volatile and unpredictable.
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Bitcoin currently mirrors tech stocks with an 81% Nasdaq 100 correlation, making it less sensitive to oil prices.
Oil prices surged to $101 per barrel on Sunday, marking a 55% increase in ten days—the largest move in history. The event caused the SPX to reach its lowest level in 10 weeks on Friday. Bitcoin (BTC) saw an initial positive reaction with prices jumping 16% between Feb. 28 and Wednesday, though it eventually erased the entire move by Sunday.
Traders now question whether Bitcoin price could suffer from the uncertainty brought by the US-Israel war with Iran. Persistently high oil prices could trigger inflation and hurt consumer spending while the US job market remains weak. Bitcoin price has benefited from sudden jumps in oil prices in the past, but the gains usually happen over a four-week period.
West Texas Intermediate (WTI) crude oil prices surged by 15% in a week starting on June 11, 2025, after global agencies assessed that Iran had enriched uranium nuclear warheads and Israel launched air strikes in the region two days later. Initially, Bitcoin price declined by 8% to $101,000 from $110,300, but it ended up reverting the move and posted 10% gains in four weeks.
On March 27, 2023, WTI prices jumped by 16% in eight days, fueled by a legal dispute leading to 450,000 barrels per day in exports from Kurdistan and a surprise production cut from OPEC. Bitcoin price gained 12% in two weeks but failed to sustain the bullish momentum, returning to the initial $28,000 level in less than a month.
A 29% weekly rally in WTI oil prices initiated on Feb. 28, 2022, following the full-scale military invasion of Ukraine by Russia, triggered global sanctions on Russian oil exports. Bitcoin prices jumped 17% over the initial two days, but those gains evaporated by the end of the week. Still, Bitcoin price eventually surged by 25% over the next three weeks as its price reached $48,000.
WTI gained 23% in nine days starting on Nov. 2, 2020, as traders anticipated the rollout of COVID-19 vaccines and US oil inventories showed unexpected drops. Bitcoin price followed the trend, gaining 16% during that nine-day window, eventually seeing 45% gains from the initial $13,500 price in under a month.
Related: Oil retreats from 25% surge as G7 weighs emergency reserve release
Bitcoin may reach $79,200 by the end of March if history repeats itself
On average, Bitcoin gained 20% over four weeks during the last four times WTI jumped by 15% or more within 10 days. These instances happened between November 2020 and June 2025, a period that includes the bear market of 2022 and most of 2023. Still, four events are not statistically significant enough to prove a solid correlation.
Bitcoin’s price has been much more closely tied to the tech sector lately, shown by its current 81% correlation with the Nasdaq 100 index. If Iran or the US de-escalate sooner than expected, the stock market may recover, and Bitcoin should benefit from that bullish momentum.
Ultimately, the duration of the war in Iran will decide if a Bitcoin rally to $79,200 is possible by the end of March. That target would match the historical 20% average gain from the $66,000 price seen since the oil rally picked up steam on Feb. 28.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
Ethereum treasury company Sharplink has reported a $734.6 million net loss for 2025 due to a crypto market decline in the second half of the year.
The firm posted its financial results for the year on Monday, revealing that its full-year net loss was primarily driven by a $616.2 million paper loss on the 868,699 Ether (ETH) it has accumulated to date.
Adding to its losses was a $140.2 million impairment charge related to converting its staked Ether.
Ethereum saw rocky performance in the second half of 2025. While its price climbed to $4,829 in August, the October market crash saw it spiraling down to close the year at roughly $3,000.
Despite the losses, the firm said it will continue to buy more Ether, arguing that its strategy is designed to weather crypto volatility.
“While short-term market volatility impacted GAAP financial results, our strategy is designed to excel through cycles. Our mandate is simple: increase ETH per share responsibly and maximize the productivity of our treasury through time,” Sharplink said.
Sharplink, chaired by Ethereum co-founder Joseph Lubin, pivoted from being a sports betting marketing company to becoming a digital asset treasury in June 2025.
Sharplink is looking to gradually increase its Ether-per-share ratio to create long-term shareholder value. The firm said it managed to more than double this ratio in 2025, going from 2 ETH per share to 4.01 ETH per share.
Despite taking a hit on the value of its ETH holdings, total revenue jumped 659% from $3.7 million to $28.1 million in 2025. Meanwhile, ETH staking revenue increased by 48.5% from Q3 to Q4 to hit $15.3 million.
For the year, the firm also banked $55.2 million from its ETH-to-liquid-staked-ETH conversions and redemptions.
Related: Ether’s path to $2.5K may be trickier than expected: Here’s why
After securing $3.2 billion in funding across 2025, Sharplink has become the second-largest publicly traded Ethereum holder behind BitMine Immersion Technologies, which now holds over 4.5 million ETH, representing 3.76% of the total supply.
BitMine also reportedly has major paper losses on its Ethereum holdings, with some estimates hitting as high as $8.8 billion amid a 60% drop in ETH over the past six months.
The price of Sharplink’s stock, SBET, has been volatile over the past 12 months and is up 67% since this time last year to sit at $7.60 at the time of writing.
The price skyrocketed 1,000% in the span of a week to hit almost $80 following its initial Ether treasury announcement in late May, before falling after the firm made its pivot.
Over the last six months, the price has declined by more than 50%.
Magazine: What’s a ‘Network State’ and are there real-life examples? Big Questions
Cryptocurrencies linked to artificial intelligence, such as Bittensor’s TAO, NEAR Protocol, Internet Computer, and others rallied after Wired reported that Nvidia is preparing a new open-source platform for autonomous AI agents, a concept similar to the OpenClaw framework, ahead of its annual developer conference.
The broader artificial intelligence token category rose about 4.8% to roughly $14.17 billion in market value, outperforming the wider crypto market, where the CoinDesk 20 index was up 2.86%. Among the majors, Bittensor’s TAO led the move, with NEAR Protocol and Internet Computer also advancing.
Nvidia’s new platform, according to Wired, will be called NemoClaw. The system would allow enterprise software companies to deploy AI agents that can perform multi-step tasks for employees, and Nvidia has reportedly approached firms including Salesforce, Cisco, Google, Adobe, and CrowdStrike about potential partnerships ahead of its developer conference next week.
Wired says NemoClaw is expected to include security and privacy tools for enterprise use and is part of Nvidia’s broader strategy to expand its software ecosystem while maintaining its dominance in AI infrastructure.
Nvidia’s GTC developer conference begins March 17.
Investment advisors were the biggest buyers of the US-based spot Solana ETFs at over $270 million, while hedge fund managers came in next at $186 million.
Silicon Valley-based venture capital firm Electric Capital Partners and investment bank Goldman Sachs were the two largest buyers of spot Solana exchange-traded funds, which launched for trading in the US in October last year.
Data shared by Bloomberg ETF analyst James Seyffart on Monday shows that the top 30 institutional holders of US spot Solana (SOL) exchange-traded funds bought over $540 million worth of the ETFs in the quarter.
Electric Capital and Goldman Sachs took out the top two positions with $137.8 million and $107.4 million worth of Solana ETF exposure, while Elequin Capital, SIG Holding and Multicoin Capital rounded out the top five.
Morgan Stanley and Citadel Advisors were among the other notable institutions that bought spot Solana ETFs after Bitwise launched the first Securities and Exchange Commission-approved spot Solana ETF on Oct. 28.
Seyffart’s data comes from 13F filings submitted to the SEC in mid-February, where institutions managing over $100 million in assets are required to disclose their Q4 holdings and position sizes.
Investment advisors accounted for by far the largest share of spot Solana ETF ownership at over $270 million, while hedge fund managers came in next at $186.4 million.
Holding companies and brokerage firms held $59.5 million and $20.3 million, while banks held $4.5 million.
The $540 million in Solana ETF holdings was backed by approximately 4.3 million SOL tokens.
However, those 4.3 million SOL tokens have fallen over 30% in market value since the end of Q4, from $124.95 to $86.53 at the time of writing.
SOL ETF net flows steadying despite price fall
Bloomberg ETF analyst Eric Balchunas noted on Thursday that cumulative flows into spot Solana ETFs have held strong in recent months despite Solana’s price fall.
Related: US banking lobby considers suing OCC over crypto bank charters: Report
Balchunas also noted that 50% of Solana ETF assets are held by these 13F-filing firms, arguably making for a more serious investor base.
Farside Investors data shows that US spot Solana ETFs have accumulated $952 million worth of inflows since launching in the US.
Magazine: What’s a ‘Network State’ and are there real-life examples? Big Questions
Major tokens snapped back on Tuesday as ceasefire optimism rippled through risk markets.
Ether reclaimed $2,029, up 2.6% over the past 24 hours and back above the $2,000 level that has served as a psychological pivot for weeks. Solana led the recovery at 2.9% to $85.67. BNB added 2.6% to $639. XRP gained 1.7% to $1.37. Dogecoin lagged at just 1% and remains down 1.4% on the week, continuing to underperform the broader market on every bounce.
The catalyst was U.S. president Donald Trump telling reporters late Monday that the Iran conflict would resolve “very soon” and that U.S. military objectives were “pretty well complete.” Asian equities surged 2% after Monday’s 3.7% plunge. Tech stocks in the MSCI Asia Pacific index jumped 3.5%. Oil fell from Monday’s spike above $100.
Analysts at Nansen said in an email that crypto had “already absorbed the negatives and priced them in,” arguing the market was responding to headlines rather than broader macro deterioration.
The institutional flow data supports that read. CoinShares reported $619 million in crypto fund inflows for the week ending Friday, with $521 million going to bitcoin products and total AUM reaching $108.3 billion.
That capital came in during a week where the S&P lost $1 trillion in a single session and the economy shed 92,000 jobs. “Spot Bitcoin ETFs continue to attract capital even as price weakens, which suggests institutional allocators are treating this as a tactical entry rather than capitulation,” said Ryan Kirkley, co-founder and CEO of Global Settlement, in an email to CoinDesk.
Ethereum’s position above $2,000 is the one to watch this week. The second-largest cryptocurrency has been fighting to hold that level since late February, and FxPro analysts flagged $2,500 and the 200-week moving average as the zone that would confirm a genuine recovery rather than a series of dead cat bounces. The gap between $2,000 and $2,500 is where the narrative shifts from “surviving the drawdown” to “starting a new trend.”
For solana, the recovery has been structurally weaker. SOL remains down roughly 55% from its cycle highs and has underperformed ether on every major bounce since the October crash.
The memecoin economy that fueled solana’s 2024 rally has evaporated, and without that speculative engine the token is trading more on macro sentiment than ecosystem activity.
XRP has been the most range-bound of the majors, hovering between $1.30 and $1.45 for most of March. ETF inflows have been positive and the legal clarity from Ripple’s settlement should be a tailwind, but the token has failed to decouple from broader market direction.
The Fed meeting on March 17-18 looms as the next real test.
Global Settlement’s Kirkley noted that the 90-day correlation between bitcoin and the S&P 500 has climbed to 0.78, one of the highest readings since mid-2022. When bitcoin trades in lockstep with equities, altcoins amplify every move in both directions.
A hawkish dot plot or any hint that rate hikes are back on the table would hit the higher-beta end of crypto hardest.
Amina, a Swiss-regulated crypto bank, has joined a blockchain-based settlement platform for tokenized securities operating under the European Union’s DLT pilot regime, marking another step toward integrating digital asset infrastructure with traditional capital markets.
The Zug, Switzerland-based company announced Monday that it has become a listing sponsor on the EU-regulated platform 21X, making Amina the venue’s first fully regulated bank participant.
Amina said the move will allow it to support companies issuing tokenized securities on 21X through its partnership with Tokeny, a Luxembourg-based company that provides technology for creating and managing tokenized financial assets.
The collaboration aims to address a key barrier to institutional adoption of tokenized assets by connecting regulated banks with the issuance and trading of tokenized securities.
21X received an infrastructure permit under the EU’s DLT pilot regime in December 2024, allowing it to run a regulated market for blockchain-based securities in a regulatory test environment.
“A lack of interoperability of tokenized asset platforms” was cited by Baker McKenzie’s European Financial Services practice in June as one of the main obstacles to the adoption of tokenization among financial institutions. “Scale will only be achieved when numerous market players are transacting with each other on common or interconnected platforms,” Zurich partner Yves Mauchle wrote on the firm’s blog.
Introduced in 2023, the DLT framework allows market operators to experiment with blockchain-based trading and settlement of financial instruments within a regulatory sandbox. The program is intended to help regulators evaluate how the technology could fit into existing market infrastructure.
Despite early uptake, the regime has faced scrutiny from industry participants, who warn that its current limits could prevent European onchain markets from scaling and competing with other jurisdictions. It remains unclear whether participation from regulated banks such as Amina will help accelerate adoption.
Related: Crypto exchanges gain as tokenized commodity market climbs to $7.7B
Strong growth of tokenized real-world assets
The development comes as financial institutions increasingly invest in blockchain infrastructure for tokenized assets. In the United States, institutions including BNY, Nasdaq and S&P Global recently backed the expansion of the Canton Network, while Europe is testing regulated blockchain trading venues such as 21X under the EU’s DLT pilot regime.
In February, eight EU-regulated digital asset companies urged policymakers to accelerate digital asset legislation, warning that the bloc risks falling behind the United States and other jurisdictions in developing tokenized financial markets.
To be sure, positive developments are taking place. In September, crypto exchange Kraken launched tokenized securities trading for European users through its xStocks platform, which offers blockchain-based versions of US-listed equities.
Two months later, tokenization platform Ondo received regulatory approval in Liechtenstein to offer tokenized equities trading to European investors.
Solana has achieved a historic milestone in the digital asset sector, officially surpassing both Ethereum and Tron in monthly stablecoin transaction volume for February 2026.
Summary
- Solana processed a record $650 billion in stablecoin volume, more than doubling its previous peak from late 2025.
- The network overtook Ethereum and Tron, capturing the largest share of the $1.8 trillion global stablecoin activity.
- SOL is consolidating near $84, with $80 acting as key support and $90 as the first major resistance for a potential trend reversal.
According to latest data, Solana’s (SOL) adjusted stablecoin volume hit a record $650 billion, representing a massive surge in on-chain payment activity that more than doubled its previous peak from late 2025.
This explosive growth marks a fundamental shift in the network’s utility, moving away from a primary reputation as a hub for meme coin speculation toward becoming the leading infrastructure for global stablecoin settlements.
Solana’s low transaction fees and high throughput have made it the preferred rail for high-frequency, economically meaningful transfers, outperforming traditional heavyweights like Tron, which previously dominated the USDT payment market.
This surge occurred against a backdrop of record global stablecoin volume reaching $1.8 trillion, with Solana now accounting for the largest single share of that activity, solidifying its position as the dominant network for the emerging digital dollar economy.
SOL price analysis
The current price action for SOL on the daily chart indicates a period of cautious consolidation following a long-term downtrend from the January highs. After crashing from the $140 level earlier in the year, Solana has spent the last month attempting to carve out a stable bottom.
Currently, the asset is trading at approximately $84.12, showing a 3.10% gain in the most recent session as it attempts to move away from a local floor.
The immediate support is firmly established at the $80.00 psychological level, which bulls have defended multiple times over the past week. On the upside, the first major hurdle for a recovery is the $90.00 resistance mark, where recent rallies have faced selling pressure.
A decisive break and hold above $90.00 would be the first major signal that a trend reversal is underway, potentially opening the door for a run toward $100.
Technical indicators provide a nuanced view of this consolidation phase, suggesting that while the trend remains neutral, bearish momentum is fading.
The Money Flow Index (MFI-14) is currently sitting at 50.78, a perfectly neutral reading that indicates a balance between buying and selling pressure after recovering from an oversold dip in early February.
Furthermore, the Accumulation/Distribution line is positioned at 338.5 million, remaining relatively flat over the last several weeks. This lack of aggressive distribution despite the lower price points suggests that long-term holders are largely staying put, awaiting a catalyst for the next leg up.
If the record-breaking stablecoin utility translates into sustained demand for SOL to cover transaction fees, the next major resistance beyond $90.00 lies at $105.00. However, if the $80.00 support fails to hold, investors should watch for a secondary defensive line at the $70.00 mark.
A banking lobby group in the United States is considering legal action against the Office of the Comptroller of the Currency over the agency granting national trust bank charters to crypto firms.
Summary
- The Bank Policy Institute is considering legal action against the Office of the Comptroller of the Currency over its decision to grant national trust bank charters to crypto firms.
- Banking groups argue the OCC ignored earlier warnings from industry bodies and state regulators while advancing licensing approvals for crypto companies.
An unnamed source familiar with “the lobby’s thinking” has informed The Guardian that the Bank Policy Institute is planning to sue the OCC for ignoring earlier warnings from banking groups and state regulators and moving ahead with its reinterpretation of federal licensing rules to grant national trust bank charters to crypto firms. According to the group, this could potentially put Americans and the financial system at risk.
Under the leadership of Jonathan Gould, who was appointed by President Donald Trump, the OCC granted the first batch of conditional national trust bank charter approvals to crypto firms, including Ripple, BitGo, and Paxos, among others. Since then, several other firms have pursued similar approvals.
Once approved, the national trust bank charter will allow these companies to operate as trust banks and offer custody and asset safekeeping services.
In October, the BPI issued a statement urging the OCC to reject applications from crypto firms, including Ripple and Circle, as it argues that granting such charters could put the financial system at risk.
“BPI cautions that endorsing this pathway and allowing firms to choose a lighter regulatory touch while offering bank-like products could blur the statutory boundary of what it means to be a “bank,” heighten systemic risk and undermine the credibility of the national banking charter itself,” it said at the time.
According to The Guardian, the BPI has yet to decide whether it intends to pursue legal action against the OCC. However, the report noted that the BPI was among a group of banks that had previously taken legal action against the Federal Reserve in late 2024 over its stress testing framework, which the central bank later agreed to reconsider.
Similar warnings over the OCC’s crypto charter approvals have been issued by the Independent Community Bankers of America, which represents thousands of small lenders. Most recently, the ICBA urged the OCC to pull or change its proposal for issuing licenses to crypto firms.
As previously reported by crypto.news, Trump-linked World Liberty Financial applied for a charter in January, and the move has drawn a lot of scrutiny from Senator Elizabeth Warren over potential conflicts of interest.
However, during a Senate Banking Committee hearing, Gould said that the agency would continue to process the application.
Bitcoin price is eyeing a technical breakout from an ascending parallel channel pattern as institutional demand returns for the bellwether asset.
Summary
- Bitcoin price is trading within a bullish continuation pattern that hints at more upside over the coming sessions.
- Bitcoin ETFs hit a weekly inflow streak for the first time in 5 months.
According to data from crypto.news, Bitcoin (BTC) price rose 4.2% in the past 24 hours, trading at $70,197 at press time. Now, charts suggest Bitcoin could see more recovery over the following sessions.
On the daily chart, Bitcoin price has formed an ascending parallel channel pattern following its sharp drop in early February. The popular bullish continuation pattern hints at sustained gains as long as an asset’s price remains within the two trendlines that define the corridor.
Further, a breakout from the upper side of the channel tends to accelerate bullish momentum for the related asset.
At the time of writing, technical indicators seemed to suggest that Bitcoin price is on the cusp of such a breakout from the pattern. The 20-day and 50-day moving averages are closing in on a bullish crossover, while the Supertrend flashed green as BTC price moved above it.
As such, $73,226, which aligns with the 50-day SMA, is the most immediate key resistance level traders would be keeping an eye on. A sharp rebound from it could springboard its price to around $86,500, a level that had previously served as a key support area during most of January this year.
On the contrary, if Bitcoin price falls below $67,674, the 20-day SMA, the bullish forecast would be invalidated. Bears could then drag BTC price back to the $65,000 key psychological support level.
A major catalyst that has been providing support for Bitcoin’s recent rebound is the surging demand from institutional investors for the asset.
According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded over $1.35 billion in net inflows over the past two weeks. This marked the first time these investment products managed to draw in back-to-back weekly inflows since early October last year. Additionally, March has also marked the first positive month for these funds after four consecutive months of bleeding.
Meanwhile, firms like Strategy have also played a key role in supporting price action. In its latest filing, the firm noted that it bought $1.28 billion worth of BTC, pushing its total holding valuation to $56.04 billion.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Ether (ETH) climbed back above $2,000 on Monday as the altcoin’s derivatives market activity intensified across major exchanges. Data shows more than 110,000 Ether flowed into derivatives platforms, while a key leverage indicator surged to new highs.
The activity points to a rapid buildup of speculative positioning, suggesting traders are preparing for increased volatility as ETH attempts to break out of its monthly trading range.
Ether derivatives inflows meet rising leverage ratio
Ether derivatives exchanges recorded a netflow of 110,343 ETH on March 7, the third-largest spike in 2026. A larger move occurred on Feb. 6, when ETH rallied roughly 13% from its yearly low at $1,736.
CryptoQuant data shows that the earlier spikes in derivatives inflows frequently preceded short-term drawdowns or periods of sharp volatility.
At the same time, Ether’s estimated leverage ratio climbed to a record 0.78 on Wednesday, exceeding the previous high of 0.778 recorded on Jan. 1. The metric tracks the amount of open interest relative to exchange reserves, and it is widely used to gauge how aggressively traders employ borrowed capital.
A higher reading means a larger share of the positions rely on leverage. Such conditions tend to amplify the price move in either direction as liquidations build across the derivatives markets.
Related: Banks will run RWAs on two blockchain rails, says RedStone co-founder
Key liquidity sits near $2,050
Ether trades inside a monthly range between $1,800 and $2,000 following a swing failure pattern near $2,150 last Wednesday. The rejection signaled profit-taking above local highs, and the price retraced to the internal liquidity levels near $1,900 and $1,950 formed early last week.
The one-hour chart now shows a bullish pivot on the one-hour timeframe, which tracks the recovery on Monday after a liquidity sweep happened near $1,908 on Sunday.
The market’s current attention may shift toward the supply zone between $2,050 and $2,100 formed late last week. A clear breakout above that range and establishing it as support may allow ETH to break significantly above $2,150.
The seven-day liquidation data from CoinGlass shows a dense cluster of short positions above the current price. Roughly $273 million in cumulative short-liquidation leverage sits near $2,030.
Large concentrations of short liquidations often act as magnet levels for the price. A move into that zone may trigger forced buybacks from the overleveraged short positions, which may accelerate the upside volatility if tagged in quick succession.
Crypto analyst Cyril-DeFi noted that ETH/USD is also testing a long-term ascending trendline that has supported the price several times since the last market cycle. The analyst said,
“Every time the price touched this support, it eventually led to a strong bounce. Right now, the $1.9k–$2k area looks like a key level that could determine the next move.”
Related: Crypto funds gain $619M as markets hold up despite oil and war fears
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
Oil prices fell while cryptocurrencies posted modest gains on Monday after US President Donald Trump told reporters that war with Iran could be coming to an end — even as he later ramped up the war rhetoric again on social media.
In a phone interview with CBS News on Monday, Trump made it appear that the war in Iran was wrapping up. The US military claims to have struck more than 3,000 Iranian targets in the first week of operations.
“I think the war is very complete, pretty much,” Donald Trump told CBS News. “If you look, they have nothing left. There’s nothing left in a military sense,” he added.
The comments saw oil prices fall 28% from their four-year high of $118 on Monday to around $85 in the hours that followed, according to OilPrice.
However, in his latest post on Truth Social on Tuesday, Trump ramped up the war rhetoric again, stating that “If Iran does anything that stops the flow of oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far.”
“Additionally, we will take out easily destroyable targets that will make it virtually impossible for Iran to ever be built back, as a Nation, again,” the President added.
“Death, Fire, and Fury will reign upon them — But I hope, and pray, that it does not happen!”
Trump’s comments in a Republican congressional fundraising event in Florida on Monday also hinted that the war may still have room to run.
“We’ve already won in many ways, but we haven’t won enough,” Trump said. “We go forward more determined than ever to achieve ultimate victory that will end this long-running danger once and for all.”
Crypto will follow other risk assets
Crypto markets are up 3.1% over the past 24 hours, with Bitcoin (BTC) reclaiming $70,000, and Ether (ETH) is hovering just above $2,000 at the time of writing.
Augustine Fan, partner and head of insights at crypto trading software service provider SignalPlus, told Cointelegraph that it is generally “hard to take these headline comments at face value, especially with other members of his [Trump’s] cabinet stating that things are still in the beginning phase, and US military assets still deployed in the region.”
“Crypto prices will continue to follow other risk assets without a fundamental narrative of its own in the near term, and macro leadership will still be driven by oil, which has seen a +$30 turnaround over the span of just 24 hours.”
Related: Bitcoin relief rally faces headwinds as bear market persists: analysts
“We don’t expect the conflict to be resolved any time soon,” he said, adding that “we would expect tradable bounces and BTC to do relatively better as a potential store of value during these times.”
Potential for prolonged uncertainty persists
Meanwhile, Andri Fauzan Adziima, research lead at Bitrue, told Cointelegraph that if Trump’s claim that the Iran war is almost over proves accurate, “I’m expecting a strong relief rally in crypto, driven by plunging oil prices, eased inflation/geopolitical fears, and renewed risk appetite.”
However, “doubts persist amid mixed signals from Iran and potential for prolonged uncertainty,” he added.
Iran’s Revolutionary Guard reportedly responded to Trump by saying that his comments were “nonsense” and “we are the ones that will determine the end of the war.”
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