Analysts explain the unexpected growth of the cryptocurrency market

The ceasefire in the Middle East lasted only about 18 hours, after which the situation escalated again. Against this backdrop, bitcoin BTC $70,627.53 Mezo Wrapped BTC 4.58% Market capitalization $41.66 million VOL. 24 hours $1.88 billion rose 3.1% to $ 70,352 on Tuesday, March 24, recovering from the weekend’s drop below $ 68,000. Other cryptocurrencies, including Ethereum ETH $2,156.75 Bridged Ether (StarkGate) 6.14% Market capitalization $40.65 million VOL. 24 hours $1.28 billion , Solana SOL $91.83 Binance-Peg SOL 7.52% Market capitalization $0.1 billion VOL. 24 hours $0.41 billion , Dogecoin DOGE $0.10 Binance-Peg Dogecoin 5.90% Market capitalization $0.24 billion VOL. 24 hours $98.72 million , and Ripple XRP $1.42 XRP 4.07% Market capitalization $87.29 billion VOL. 24 hours $0.24 billion , added between 2 and 4%.

Saudi Arabia has agreed to grant the US access to the King Fahd Air Base, reversing its previous position on using its facilities for strikes against Iran. The United Arab Emirates took similar steps. This means that the conflict could turn from a US-Israeli operation into a broad regional coalition, which would significantly increase the level of escalation.

Iran has rejected the possibility of negotiations with Washington, and the Strait of Hormuz remains virtually blocked, with only a few ships passing through it. This puts additional pressure on energy markets and global trade.

Financial markets reacted instantly: S&P 500 futures fell by 0.5%, European stocks are preparing to fall by 0.8% at the opening. Brent rose by 4% to $ 104, and the dollar strengthened by 0.3%. At the same time, gold lost another 1.5%, extending the longest streak of daily falls in history, which has become the most disorienting signal for investors.

Analysts attribute the collapse of gold to forced sales due to margin calls, as this asset is the most liquid. Against this backdrop, the stability of bitcoin looks particularly telling: an asset traditionally considered too volatile is holding the $ 70,000 level at a time when classic safe havens are breaking down historical patterns. Ahead is the five-day window the US president gave Iran, but Saudi Arabia’s entry into the conflict has already changed the calculus, jeopardizing oil infrastructure on both sides of the Persian Gulf.