Bitcoin (BTC) moved lower on Monday as traders reacted to new pressure from the Middle East crisis and a weaker tone across risk assets. The asset fell below $67,500 earlier in the day before recovering part of the loss, while most major altcoins also traded in the red.
Summary
- Bitcoin dropped below $67,500, hitting a two-week low as geopolitical tension triggered broader market selling.
- Ethereum, XRP, Solana, and Dogecoin fell alongside Bitcoin as risk appetite weakened across crypto markets.
- SIREN surged against the trend, posting sharp gains while the broader crypto market remained under pressure.
Bitcoin started last week on a stronger note and climbed above $76,000 on Tuesday, marking its highest level in about six weeks. That rally faded later in the week as traders reacted to the Federal Reserve’s latest policy decision and Chair Jerome Powell’s comments on inflation and uncertainty. The Fed left rates unchanged on March 18 and said inflation is likely to rise in the near term.
Selling pressure grew again over the weekend as the market focused on the Middle East conflict. Rising war risks and higher oil prices pushed investors away from risk assets, while U.S. stock futures also fell as markets assessed new threats tied to Iran and the Strait of Hormuz.
Live market data showed Bitcoin trading at $68,435 after dropping as low as $67,436 during the session. That intraday low placed the asset at its weakest level in roughly two weeks before buyers pushed it back above $68,000.
The market remains sensitive to macro news. Bitcoin fell to about $67,806 as crypto prices tracked the wider risk-off move linked to the Middle East conflict. The report said the drop came as oil prices stayed high and investors reduced exposure to volatile assets.
Major altcoins follow bitcoin lower
Ethereum (ETH) also moved down during the same period. Live market data showed ETH at $2,044 after falling to an intraday low of $2,026. XRP traded at $1.37, Solana at $85.80, and Dogecoin at $0.0898, with all of them posting daily losses.
The broad decline matched the tone across the rest of the crypto market. Reports on Monday said traders had reduced long exposure as geopolitical risk increased. That shift left several large-cap tokens under pressure and limited the rebound seen late on Sunday.
While most large tokens moved lower, SIREN continued to trade against the wider trend. CoinMarketCap data showed the BNB Chain-based token reached a record high of $3.83 on March 22 before pulling back. The same page showed the token remained far above its earlier levels despite the latest retracement.
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