New York, March 23, 2026, 14:11 EDT
Bitcoin clawed its way back near $71,000 on Monday after U.S. President Donald Trump announced a five-day postponement of strikes targeting Iranian power plants, unwinding some of the morning’s rush out of risk assets. The cryptocurrency last traded up 3.3% at $70,989, having earlier dipped to $67,436. Reuters
Bitcoin followed the broader markets Monday, rather than moving on its own. After Trump’s reprieve, Brent crude tumbled roughly 8%, and global equities bounced off a four-month low—crypto joined the rally. Reuters
The rebound showed little conviction. Iran pushed back against reports of negotiations with Washington, while DWS chief investment officer David Bianco called the lull nothing more than a pause that “buys time.” He doesn’t expect the conflict to be “back in the bottle overnight.” Reuters
Fresh numbers from CoinShares suggest demand stuck around, though it’s cooled. Digital-asset investment products saw $230 million of inflows last week, with bitcoin alone pulling in $219 million, according to James Butterfill, head of research. Flows turned negative after the Fed meeting, as investors leaned into a “hawkish pause” — that is, expecting rates to remain elevated. CoinShares
Ether climbed 3.4% to $2,149. Crypto stocks did better as well—Coinbase gained 2.6%, while Strategy picked up 1.2%, market data showed.
Strategy threw another corporate buy signal into the mix. According to an 8-K filed Monday, it snapped up 1,031 bitcoin last week, shelling out $76.6 million at an average of $74,326 per coin. That pushes its stash to 762,099 coins. SEC
Still, the broader setup looks messy. Citigroup last week trimmed its 12-month bitcoin target down to $112,000 from $143,000, citing slow movement on U.S. crypto legislation. That lag is shrinking the window for policy-driven catalysts that might drive adoption and new inflows. Strategist Alex Saunders flagged $70,000 as a key level and noted this year’s “window of opportunity” is narrowing. Reuters
Oil and rates jumping again remain the top risks right now. Goldman Sachs, in a late Sunday note, bumped its 2026 Brent projection, now seeing prices averaging $110 in March and April if traders keep betting on disruption at the Strait of Hormuz. Rathbones’ John Wyn Evans put it bluntly: every unresolved day drags markets “slow downward.” Reuters
