Key Highlights
- Bitcoin maintains position above $66,000, experiencing just a 6% weekly decline compared to steeper losses across other asset classes
- Precious metals under pressure with gold recording nine consecutive trading sessions in the red, shedding approximately 18% from peak levels
- American equity futures declined Monday morning, with the Dow Jones experiencing its most extended period of weekly losses since 2023
- President Trump delivered a 48-hour deadline to Iran regarding Strait of Hormuz access, warning of potential attacks on energy facilities
- Goldman Sachs upgraded oil price projections, characterizing the Hormuz situation as an unprecedented supply disruption for petroleum markets
The leading cryptocurrency is demonstrating greater resilience compared to traditional financial instruments as worldwide markets enter their fourth consecutive week of downward pressure, fueled by escalating tensions from the ongoing US-Israeli conflict with Iran.
During Monday’s Asian trading hours, Bitcoin changed hands at $68,316, registering a 1.5% gain over 24 hours while posting a 6% weekly decline. Ether advanced 2.7% to reach $2,059. Among prominent digital currencies, Dogecoin emerged as the weakest performer, declining 7.4% across the week to settle at $0.09.
Tron stood out as the sole major cryptocurrency showing weekly gains, advancing 3.8%.
American equity futures indicated lower openings Monday morning. Dow futures retreated approximately 0.4%, S&P 500 futures decreased 0.5%, while Nasdaq 100 futures slipped 0.6%.
During the trading week concluded Friday, both the Dow and Nasdaq surrendered roughly 2%, with the S&P 500 declining 1.5%. The Dow Jones Industrial Average has now recorded four consecutive weeks of negative returns, marking its lengthiest losing stretch since 2023.
Precious metals continued their descent Monday, with gold dropping for a ninth straight session to approximately $4,360. This represents an 18% drawdown from recent peaks, contradicting its conventional position as a refuge during international tensions.
According to Alexander Blume, CEO of Two Prime, an SEC-registered investment advisor, the movements in both gold and Bitcoin reflect “more structural than market-based” dynamics. He highlighted how China and other nations have been systematically accumulating gold reserves to diminish dollar dependency, though this pattern reversed when the conflict intensified and liquidity concerns took precedence.
Primary Catalysts Behind Market Weakness
The Iranian conflict has now entered its fourth week. During the weekend, President Trump stated his opposition to a ceasefire and delivered a 48-hour ultimatum Saturday, warning of strikes against Iranian energy infrastructure should the Strait of Hormuz remain blocked.
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
Tehran’s response indicated that any such military action would trigger permanent closure of the Strait alongside retaliatory operations targeting US and Israeli energy installations throughout the region.
Brent crude climbed to approximately $113 per barrel, marking a year-to-date surge exceeding 70%. Goldman Sachs revised its annual Brent projection upward to $85 from $77, while elevating its WTI estimate to $79 from $72. The investment bank characterized the Hormuz situation as the most significant supply disruption in the history of global petroleum markets.
Treasury yields increased as extended conflict heightened inflation worries, diminishing market expectations for interest rate reductions by central banks.
Forward-Looking Market Perspective
Asian equity markets declined for a third consecutive trading session, nearing correction levels. European and S&P futures suggested additional downside ahead.
Friday will deliver updated readings on the University of Michigan consumer sentiment indicator, alongside near-term and long-term inflation outlook data. Tuesday brings the S&P Global Flash US PMI release.
Blume indicated Two Prime has positioned itself for elevated funding and futures rates in upcoming weeks, signaling his expectation for greater Bitcoin upside than current market valuations reflect.
The 48-hour deadline established by Trump reaches its conclusion Monday evening.
