Hamaseneh Attack Leads to Death, Shocking Global Markets: Bitcoin Falls Below $67,000, Oil and Gold Surge Simultaneously

Following the escalation of Middle East tensions, global financial markets experienced turbulence. News of the assassination of Iran’s top leader triggered a surge in oil and gold prices, with safe-haven assets performing well.

Bitcoin briefly rebounded to $68,000 before retreating. The tense situation caused continued volatility in cryptocurrencies, prompting investors to shift toward traditional safe-haven assets. Market focus remains on the ongoing developments in the Middle East and energy prices.

On March 2, news broke that the Middle East situation suddenly escalated, causing shockwaves in global financial markets. After the U.S. and Israel launched large-scale airstrikes against Iran, news of the assassination of Iran’s Supreme Leader Ali Khamenei spread rapidly.

The rise in geopolitical risks caused energy and safe-haven asset prices to soar, while the cryptocurrency market experienced significant fluctuations, with Bitcoin, Ethereum, and XRP all retreating.

Following the news, Bitcoin quickly rebounded to approximately $68,000. Some investors initially believed that Iran’s power structure might enter a transitional phase, and that tensions could ease in the short term, leading to a brief rebound in risk assets.

However, this optimistic sentiment did not last long. As U.S. President Trump announced that U.S. military strikes against Iran would continue, market risk appetite rapidly cooled, and cryptocurrencies entered a correction phase again.

Data shows that Bitcoin, after rising to $68,000, fell back to around $66,249, a daily decline of about 1%. Despite maintaining a gain of approximately 1.5% over the past week, it has nearly a 20% decline over the past month. Meanwhile, Ethereum briefly broke above $2,000 before retreating to about $1,947, down approximately 2.4% for the day; XRP also weakened, currently trading around $1.35, nearly 3% lower than the previous trading day. Unlike cryptocurrencies, traditional safe-haven assets strengthened significantly.

Market concerns that Middle East conflict could threaten global energy supplies led to the largest single-day increase in international oil prices in four years. Gold prices also surged sharply, reaching near $5,382, with a 24-hour increase of about 2%. Silver prices also rose to around $95.

Orbit Markets analyst Caroline Mauron pointed out that the current market focus is on the energy sector and the Strait of Hormuz situation. The strait accounts for about one-fifth of global oil transportation. If the situation worsens, it could trigger a chain reaction affecting global inflation and financial markets. In this context, short-term movements in cryptocurrencies are more driven by macro risk sentiment.

Additionally, Iran denied reports of resuming nuclear negotiations with the U.S., further complicating tensions. As investors continue to shift toward gold and energy assets for safety, digital assets like Bitcoin and Ethereum may remain highly volatile in the short term. The market will next focus on the development of Middle East tensions and how changes in energy prices further impact risk assets.