March 2 News: The situation in the Middle East has rapidly escalated, triggering volatility in global markets. As Iran intensifies military operations in the region, Bitcoin surged during the Asian trading session before pulling back. U.S. stock index futures also turned lower, while energy markets continued to strengthen.
Market data shows that Bitcoin briefly rose close to $67,000 in early Asian trading but then fell below $66,000, currently hovering around $65,700. Meanwhile, U.S. S&P 500 mini futures dropped to about 6,790 points, down approximately 1.4% for the day, after reaching a high of 6,857 earlier in the session.
The shift in market sentiment is related to tensions in the Middle East. According to open-source intelligence firm Warn and Gore, Iran has recently increased missile attacks targeting U.S. military and strategic assets in Bahrain, Kuwait, and the UAE. Additionally, Iran is accused of striking some oil infrastructure in Saudi Arabia. As a major global energy supplier, this news quickly pushed international oil prices higher.
In the energy market, international crude oil prices continued to rise, gaining over 7%. Analysts suggest that if the Middle East situation worsens, global energy supply chains could be affected, pushing up inflation expectations and triggering a chain reaction in global risk assets.
Market observers believe Bitcoin is showing some resilience. Despite short-term corrections due to geopolitical shocks, prices remain above key support levels. The future trend will largely depend on developments in the Middle East, oil price movements, and changes in global risk appetite.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
TAO Falls 6.9% in 24 Hours as Covenant Exit and Market Rotation Weigh on Price
Bittensor's TAO token fell 6.9% to $238.91 amid a week-long decline linked to Covenant AI's exit due to centralized control concerns. Competing AI tokens had smaller declines. Despite the downturn, TAO remains the top AI token by market cap, with Grayscale increasing its allocation.
GateNews5m ago
Bitmine advances to the NYSE main board! Tom Lee: The US stock market may have bottomed out, and selling pressure on Ether could ease
Bitmine has officially moved from the NYSE American board to the main board in the United States, marking a major milestone for the company. Despite a sharp drop in its stock price, it has still increased its share buyback plan by raising the authorization to $4 billion. The company holds a large amount of Ethereum, and predicts that a rebound in the crypto market will help improve its assets and stock performance.
CryptoCity21m ago
Solana Foundation Partners Triton One to Redesign Onchain Data Layer as SOL Gains 3%
The Solana Foundation is collaborating with Triton One to enhance its on-chain data access layer, improving scalability and data retrieval. The redesign features two core modules: Accounts for adaptive indexing and Ledger for efficient historical data management. SOL is currently trading around $84.
GateNews1h ago
Bitmine promoted to the NYSE Main Board! Tom Lee: U.S. stocks may be at a bottom, and selling pressure on Ether could ease
Bitmine has officially moved from the NYSE American board to the main board in the U.S., marking an important milestone for the company. Despite a sharp drop in its share price, it has still increased its share repurchase program to $4 billion. The company holds a large amount of Ether (ETH), and expects that a rebound in the crypto market will help improve its assets and share price performance.
CryptoCity3h ago
Bitcoin Reclaims $76,000 as US March PPI Misses Forecasts
Bitcoin surged past $76,000 following lower-than-expected US Producer Price Index data for March 2026, which indicated a 4% year-over-year increase. The rise reflects strong market support despite declining leveraged positions.
GateNews6h ago
BTC 15-minute rise of 0.64%: a technical breakout of key resistance combined with weak liquidity amplifies volatility
2026-04-14 15:30 to 15:45 (UTC), BTC saw short-term fluctuations within the 74,795.5 to 75,319.3 USDT range, with a return of +0.64% and a range of 0.70%. During this period, market attention warmed up, volatility intensified, trading volume rose slightly compared with the previous hour, and short-term buy orders pushed the price upward quickly.
The main driver of this unusual move was BTC’s short-term technical breakout above the 74,000 USDT key resistance, which generated a long signal and triggered rapid responses from quantitative and programmatic buy orders. At the same time, because the order book depth has been rising since 2025
GateNews6h ago
