Bitcoin continues to decline on March 28, trading near 66,200 USD as the market is impacted by increasing uncertainty regarding the easing of tensions between the United States and Iran. The temporary 10-day suspension of energy strikes by President Donald Trump did not alleviate investors' concerns, especially after reports that Israel continues to strike during this time.
This reaction can be clearly seen in various markets.
The S&P 500 has consistently declined throughout this week, falling to its lowest level in 6 months.
This broad sell-off indicates a clear shift towards a risk-off sentiment, with investors pulling out of stocks as geopolitical and economic uncertainties expand.
The crypto market is following the same trend.
The price movements of Bitcoin continue to reflect weakness, as despite intraday rebounds, it cannot hold its ground, which signals deeper issues.
The market does not view Trump’s temporary halt as a significant step towards peace, but merely a delay of the eruption. News reports indicating ongoing attacks further reinforce this perception.
At the same time, the rising yields of U.S. government bonds are tightening financial conditions. Higher yields mean reduced liquidity and increased capital costs, which typically pressure risky assets such as stocks and crypto.
Therefore, Bitcoin tends to move more like technology stocks rather than being a safe-haven asset.
In previous cycles, geopolitical tensions sometimes supported Bitcoin prices, but the situation has changed. Inflation risks, rising oil prices, and expectations of lower interest rate cuts are now key factors driving the market.
And at this moment, the signals remain clear.
As long as there is no confirmed progress on easing the situation and yields do not stabilize, the crypto market will continue to face ongoing pressure, with pronounced downside risks in the short term.