Key Highlights
- After dropping to ~$63,000 over the weekend due to U.S.-Iran conflict fears, BTC surged up to 5%, hitting near $70,100 before settling around $68,800–$69,000.
- ETH also climbed roughly 5% from below $1,900 to highs near $2,065, approaching $2,100 before pulling back slightly.
- The bounce followed weekend sell-off from military strike reports, driven more by short squeezes than new inflows.
The cryptocurrency market staged a notable rebound on March 3, 2026, as Bitcoin and Ethereum clawed back amid lingering geopolitical tensions from the U.S.-Iran conflict.
After dipping sharply over the weekend on fears of escalation, the two leading assets showed signs of resilience, with Bitcoin (BTC) testing the psychologically important $70,000 level and Ethereum (ETH) pushing toward $2,100 before easing slightly.
The moves came as broader risk sentiment stabilized, with equities recovering from early losses and oil prices pulling back from intraday spikes.
Bitcoin surged as much as 5% in early trading, reaching highs near $70,100 on leading crypto exchanges before settling around $68,800–$69,000 by late afternoon (U.S. session). This marked a clear recovery from weekend lows dipping to $63,000 following reports of military strikes.
Though the rally appeared fragile, with technical indicators still leaning bearish and resistance looming at $72,000–$73,000 for BTC.
Market watchers attributed much of the upside to short-covering rather than fresh institutional inflows. Open interest in Bitcoin futures climbed toward $21.9 billion, signaling renewed positioning, while large liquidations cleared out weaker hands.
Ethereum followed suit with a roughly 5% gain, climbing to around $2,065 from sub-$1,900 levels earlier in the week.
At the time of publishing, Bitcoin was trading near $67,750 and ETH at $1,995—both up roughly 1.5% in the past 24 hours, as per CoinMarketCap data.
Also read: Ethereum Is Down 60% From Its High. Here’s Why That Might Be the Opportunity
