Impacted by the US-Iran war, global markets have suffered heavy losses. The S&P 500 fell 1.5% last Friday, marking its fourth consecutive weekly decline—the longest losing streak in a year. Gold has rebounded slightly after experiencing its largest weekly drop in over 40 years, currently hovering near $4,500. Oil prices continue to fluctuate at high levels. President Trump's threat to Iran regarding the Strait of Hormuz on March 22 triggered a sell-off by investors. Bitcoin (BTC) broke below $68,000 this morning, while Ethereum (ETH) retreated to just above $2,000.

Trump and Iran Exchange Threats, Strait of Hormuz Crisis Intensifies

President Trump issued a 48-hour ultimatum to Tehran on Saturday night, demanding the reopening of the Strait of Hormuz or face military strikes on its power plants. The deadline is set to expire on Monday evening (New York time).

However, Iran responded that any such attack would prompt an indefinite closure of the waterway and retaliatory strikes against key facilities of the US and its Middle Eastern allies in the region, signaling a potential escalation of the conflict from both sides.

Under the shadow of the US-Iran war, global markets have been hit hard, with both stocks and bonds falling last week. The S&P 500 dropped 1.5% on Friday, closing down for the fourth straight week. US Treasury yields have climbed to their highest levels in months.

Gold has seen a slight rebound after its biggest weekly drop in four decades, currently trading around $4,500. Oil prices remain volatile at high levels.

Bitcoin Breaks Below $68K

The cryptocurrency market has fallen 2.65% in the last 24 hours, with the total market cap reaching $2.35 trillion. Specifically, President Trump's threat regarding the Strait of Hormuz on March 22 triggered a sell-off of risk assets. Bitcoin fell below $68,000 this morning, and Ethereum retreated to just above $2,000.

After seven consecutive days of net inflows, Bitcoin Spot ETFs have seen renewed outflows, totaling $300 million over the past three days. The Fear & Greed Index, representing market sentiment, has dropped back to 25. With no end in sight for the conflict in the Middle East, investors are increasingly turning conservative.

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