Key Highlights
- Bitcoin maintains support above $66,000 with a modest 6% weekly decline compared to steeper losses across traditional markets
- Gold experiences unprecedented nine-day consecutive decline, shedding approximately 18% from peak levels
- US equity futures declined Monday morning, with the Dow Jones recording its most extended losing period since 2023
- President Trump delivered a 48-hour deadline to Iran regarding Strait of Hormuz access, warning of potential energy infrastructure attacks
- Goldman Sachs revised oil price projections upward, characterizing the Hormuz situation as an unprecedented crude supply disruption
The cryptocurrency market is demonstrating remarkable resilience compared to traditional financial assets as worldwide markets enter their fourth consecutive week of negative performance, fueled by escalating tensions between the United States, Israel, and Iran.
During Monday’s Asian trading session, Bitcoin changed hands at $68,316, registering a 1.5% gain over the previous 24-hour period while experiencing a 6% weekly decline. Ethereum climbed 2.7% to reach $2,059. Among prominent digital currencies, Dogecoin suffered the steepest weekly losses, falling 7.4% to trade at $0.09.
Tron emerged as the sole major cryptocurrency showing positive weekly performance, advancing 3.8%.
American equity index futures indicated downward momentum during early Monday trading. Dow Jones futures decreased approximately 0.4%, S&P 500 futures contracted 0.5%, and Nasdaq 100 futures slipped 0.6%.
Throughout the trading week concluded Friday, both the Dow Jones and Nasdaq registered approximately 2% declines, whereas the S&P 500 surrendered 1.5%. The Dow Jones has accumulated four consecutive weeks of negative returns, representing its most prolonged downward trend since 2023.
The precious metal continued its downward trajectory Monday, marking a ninth straight session of losses with prices hovering around $4,360. This decline represents roughly an 18% retreat from recent peak valuations, contradicting gold’s conventional safe-haven status during periods of geopolitical uncertainty.
According to Alexander Blume, CEO of Two Prime, an SEC-registered investment advisory firm, the price movements in both gold and Bitcoin reflect “more structural than market-based” forces. He highlighted systematic gold purchases by China and additional nations seeking to diminish reliance on the US dollar, a strategy that reversed course as the regional conflict intensified and market liquidity became paramount.
Factors Behind Market Weakness
The Iranian conflict has now entered its fourth week. During weekend statements, President Trump rejected ceasefire proposals and issued a Saturday ultimatum giving Iran 48 hours to reopen the Strait of Hormuz passage, threatening military action against Iranian energy facilities should compliance not occur.
IMPORTANT UPDATE:
Trump gave Iran a 48 hour deadline to open the Strait of Hormuz or he will bomb their power plants
Iran responded they are open to opening the Straits, but want an end to the war and assurances there won’t be more wars
I think we have the foundation for an… pic.twitter.com/KrJW8L2MUL
— Mario Nawfal (@MarioNawfal) March 22, 2026
Iranian officials countered that any military strikes would trigger permanent closure of the strategic waterway and reciprocal attacks targeting American and Israeli energy installations throughout the region.
Brent crude advanced to approximately $113 per barrel, accumulating more than 70% gains year-to-date. Goldman Sachs elevated its annual Brent price projection to $85 from $77 and increased its WTI forecast to $79 from $72. The investment bank characterized the Hormuz disruption as representing the most significant supply constraint in global crude oil market history.
Treasury yields climbed as extended conflict heightened inflation worries, diminishing market expectations for central bank interest rate reductions.
Forward-Looking Assessment
Asian equity markets declined for a third consecutive trading session and are nearing correction levels. European futures and S&P futures signaled additional downside momentum.
Friday’s economic calendar includes the University of Michigan consumer sentiment index release, alongside near-term and extended inflation expectation measurements. The S&P Global Flash US PMI report is scheduled for Tuesday publication.
Blume indicated that Two Prime maintains positions anticipating elevated funding rates and futures pricing in upcoming weeks, suggesting his firm anticipates greater upside potential for Bitcoin than current market valuations reflect.
President Trump’s 48-hour deadline reaches expiration Monday evening.
