Key Highlights
- Bitcoin maintains position above $66,000 with a modest 6% weekly decline, outperforming most traditional assets
- The precious metal gold extends its losing streak to nine consecutive sessions, shedding approximately 18% from recent peak levels
- Equity futures pointed lower Monday morning, with the Dow Jones experiencing its most extended decline since 2023
- President Trump delivered a 48-hour deadline to Iran regarding the Strait of Hormuz situation, warning of potential strikes on energy facilities
- Goldman Sachs adjusted oil price projections upward, characterizing the Hormuz situation as an unprecedented supply disruption
The flagship cryptocurrency is demonstrating notable resilience compared to traditional asset classes as worldwide markets enter their fourth consecutive week of declines, with the US-Israeli conflict with Iran continuing to drive market sentiment.
During Monday morning trading in Asian markets, Bitcoin was exchanging hands at $68,316, representing a 1.5% gain over the previous 24-hour period, though still posting a 6% weekly decline. Ether experienced a 2.7% uptick to reach $2,059. Among leading cryptocurrencies, Dogecoin registered the weakest performance, sliding 7.4% over the week to trade at $0.09.
Tron stood as the sole major cryptocurrency posting weekly gains, advancing 3.8%.
Equity index futures indicated a lower open for Monday’s session. Dow futures retreated approximately 0.4%, S&P 500 futures declined 0.5%, and Nasdaq 100 futures slipped 0.6%.
During the week concluding Friday, both the Dow and Nasdaq registered losses near 2%, with the S&P 500 shedding 1.5%. The Dow Jones has now recorded four consecutive weeks of negative performance, marking its most prolonged losing sequence since 2023.
The precious metal continued its downward trajectory for a ninth straight session Monday, trading around $4,360. This represents an approximately 18% decline from recent highs, contradicting its conventional function as a haven during periods of geopolitical uncertainty.
Alexander Blume, CEO of Two Prime, an SEC-registered investment advisor, characterized the movements in both gold and Bitcoin as “more structural than market-based.” He noted that China and other nations have been systematically accumulating gold to diminish reliance on the US dollar, a pattern that reversed as the conflict intensified and liquidity considerations took precedence.
Factors Driving Market Weakness
The Iranian conflict has now entered its fourth week. During the weekend, President Trump indicated opposition to a ceasefire arrangement and delivered a 48-hour deadline Saturday, warning of strikes against Iranian energy infrastructure should the Strait of Hormuz remain closed.
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 responded by warning that any such military action would trigger an indefinite blockade of the Strait along with retaliatory operations targeting US and Israeli energy facilities throughout the region.
Brent crude climbed to approximately $113 per barrel, now reflecting a year-to-date increase exceeding 70%. Goldman Sachs revised its annual Brent projection upward to $85 from $77, while raising its WTI forecast to $79 from $72. The financial institution characterized the Hormuz disruption as the most significant supply shock in global crude market history.
Treasury yields advanced as the extended conflict amplified inflation worries, diminishing market expectations for central bank interest rate reductions.
Forward-Looking Perspectives
Asian equity markets declined for a third consecutive trading session and are nearing correction threshold levels. European and S&P futures indicated additional downside momentum.
Friday’s economic calendar includes the University of Michigan consumer sentiment index update, featuring both near-term and long-term inflation expectation data. Tuesday will deliver the S&P Global Flash US PMI report.
Blume indicated that Two Prime has positioned for elevated funding and futures rates in upcoming weeks, implying his outlook anticipates more upward potential for Bitcoin than current market pricing reflects.
The 48-hour deadline issued by President Trump reaches its expiration Monday evening.
