NEW YORK, Feb 28, 2026, 13:04 (EST) — Market closed
- Bitcoin slipped roughly 0.4% to trade near $65,400, after earlier falling into the low $63,000s.
- Risk appetite faded in weekend trading, as U.S.-Israeli strikes on Iran reignited volatility across oil and the wider markets.
- Monday brought fresh ETF flow numbers, while next week, the U.S. jobs report is on deck—both eyed by traders hungry for hints about risk appetite.
Bitcoin drifted lower on Saturday, touching $63,177 before settling near $65,395 in quieter weekend action. Ether slipped roughly 1.3%, trading at $1,906.
Investors are shifting back into “risk-off” mode ahead of Monday’s open, after U.S. and Israeli strikes on Iran ramped up tensions. Traders are watching closely as the escalation unfolds. Reuters
This is significant for bitcoin. Rather than acting as a safe haven, the token’s behaving more like a risk asset. Bitcoin dropped roughly 2% on Saturday, Reuters reported, and the slide adds up: over the last two months, it’s shed more than 25%. Oil prices and worries over inflation are back in focus for markets.
Energy bore the brunt early on. Following the attacks, multiple tanker operators, oil majors, and large trading firms halted shipments through the Strait of Hormuz. According to Reuters, a European naval mission official said ships were told, “no ship is allowed to pass” the strait. Reuters
Christopher Wong, strategist at OCBC in Singapore, sees a “predictable” playbook as markets open Monday: safe havens likely climbing, while “risk assets” could get roughed up by volatility if retaliation headlines start piling in. Investing.com
There’s another mechanical factor on crypto desks: U.S.-listed spot bitcoin ETFs, which pause over the weekend, often shake up price action when Monday rolls around. Farside Investors data put the group’s Friday net outflow at $27.5 million, a reversal from Thursday’s hefty $254.4 million inflow. BlackRock’s IBIT led outflows, dropping $32.7 million that day; Invesco’s BTCO and Franklin’s EZBC, though, managed modest inflows.
Bitcoin-connected stocks slumped this week in U.S. trading. Coinbase dropped roughly 6.5% late Friday, with Strategy off around 5.6%.
Regulation keeps cropping up in the headlines. Tether disclosed it froze roughly $4.2 billion worth of its USDT stablecoin tied to what it described as “illicit activity,” responding to mounting pressure from authorities targeting crypto crime. Stablecoins such as USDT remain a core part of the crypto trading infrastructure. Reuters
Still, what happens next depends on the headlines. Should the conflict escalate or if there’s more disruption in shipping and energy, traders point out that the initial pressure usually lands on the most crowded risk trades. Lately, that’s included bitcoin.
Looking into the coming week, attention turns to how risk appetite holds up as U.S. markets come back online Monday. Another focus: will spot bitcoin ETF flows swing back to net inflows? The big data point on the horizon is the February U.S. jobs report, expected March 6, a release that could shake up rate bets and ripple through speculative assets.
