NEW YORK, March 31, 2026, 14:08 EDT
- Bitcoin climbed roughly 1.2% to $67,557, having reached $68,370 earlier. Ether moved up 2.8% to $2,096.20.
- U.S. spot bitcoin ETFs brought in $69.4 million on March 30, rebounding from the $225.5 million that moved out on March 27.
- Strategy reported zero bitcoin buys during March 23-29, keeping its stash steady at 762,099 coins, each purchased for an average of $75,694.
Bitcoin edged higher on Tuesday, briefly climbing past $68,000 after news surfaced that U.S. President Donald Trump might consider ending military operations against Iran, even as the Strait of Hormuz remains mostly shut. The top cryptocurrency was recently up 1.2% at $67,557, rebounding from a session low of $66,001.
What’s notable here: bitcoin continues to trade in sync with equities and other risk assets, instead of showing classic safe-haven tendencies. Month- and quarter-end flows probably lifted prices, but with Brent holding near $115 and U.S. crude around $104, nerves across broader markets have hardly eased.
Fund flows chipped in to the rebound, too. U.S. spot bitcoin ETFs attracted $69.4 million in net inflows on March 30, according to Farside. That marked a turnaround from last week’s redemptions—March 27 alone saw $225.5 million head out the door.
The institutional setup looks murky. In a post Monday, Bitfinex pointed to a pickup in short-covering—traders closing out bearish positions—as the main fuel behind recent gains, not new money coming in. The firm also flagged ETF outflows as a sign that de-risking is underway.
Corporate buyers mostly stepped back as well. Strategy, in a March 30 filing, reported zero bitcoin purchases for the March 23-29 stretch and didn’t sell any shares via its share-sale program; the company’s stash stayed at 762,099 coins, locked in at an average of $75,694 apiece.
Equity investors keep a sharp eye on Strategy, largely due to its hefty bitcoin reserves. Right now, the company’s average purchase price is about 11% higher than where bitcoin traded on Tuesday. That gap underscores just how tough things get—even for big-name accumulators—when BTC trades south of $70,000.
Ethereum jumped 2.8% to $2,096.20, outpacing bitcoin’s gains for the session. Still, bitcoin trades far under its 2025 all-time high, a record topping $125,000.
Nexo’s Iliya Kalchev told Barron’s on Monday that cryptocurrencies are stuck in a “wait-and-see” phase. Scotiabank’s chief FX strategist, Shaun Osborne, didn’t mince words on the currency outlook: “There’s still a lot of uncertainty here about where we actually land on this.” Barron’s
That’s the risk here. A fresh jump in oil prices or a wider conflict could yank money out of crypto as fast as it flowed back in, with the same factors propping up the dollar. Bitfinex flagged the danger: tougher liquidity conditions and macro stress might still force a sharper correction.
The market’s got a bid, though not a strong one. Bitcoin has bounced above $67,500, pulling away from its session low. Still, with only tepid ETF inflows, uncertain corporate demand, and ongoing macro jitters tied to war, this move up looks more like a relief rally than a sign of real commitment.
