NEW YORK, March 2, 2026, 17:20 EST — Trading picks up after-hours
- Bitcoin jumped roughly 5% Monday, following a weekend marked by volatility linked to the Iran conflict.
- Coinbase, Strategy, and BlackRock’s iShares Bitcoin Trust each ended the day up over 5%.
- Oil, inflation expectations, and the Fed’s March policy meeting are on traders’ radar.
Bitcoin moved higher Monday, jumping roughly 4.8% to $69,254 in late New York trading after bouncing around between $65,142 and $69,952. Ether added almost 5%, landing at $2,045. U.S.-listed crypto stocks finished in positive territory—Coinbase climbed 5.3%, Strategy tacked on 6.3%, and BlackRock’s iShares Bitcoin Trust ETF advanced 5.4%.
Markets bounced as traders worked to price in escalating Middle East tensions, following U.S.-Israeli strikes on Iran over the weekend and Tehran’s response. “At the moment, market participants seem to be expecting a shorter war lasting only a few weeks,” said Joerg Kraemer, chief economist at Commerzbank. Over at J.P. Morgan, analysts suggested a brief, one-to-two-week pullback in risk assets could end up being a “buy-the-dip opportunity.” 1
With traditional markets closed, it was bitcoin that moved first—crypto trades non-stop. Markus Thielen, head of research at 10x Research, noted a clear jump in demand for upside bitcoin calls, those options letting holders buy at a fixed price. Hayden Hughes, managing partner at Tokenize Capital, called bitcoin “the only large liquid asset trading 24/7.” For Justin d’Anethan at Arctic Digital, it serves as a kind of “pressure valve” when major news breaks over the weekend. 2
Energy surged, with Brent crude closing 6.7% higher at $77.74 a barrel, after spiking to $82.37 earlier in the day. U.S. crude finished up 6.3% at $71.23. The jump followed reports of attacks and mounting concerns over shipping disruptions in the Strait of Hormuz, according to Reuters. 3
A fresh company filing added more heat to the bitcoin trade. Strategy revealed it scooped up 3,015 bitcoin between Feb. 23 and March 1, spending $204.1 million at an average of $67,700 per bitcoin. That brought its stash to 720,737 bitcoin. The purchases, according to the company, were financed with proceeds from an at-the-market program—allowing shares to be sold directly into the open market at current prices. 4
Stock investors care, since Strategy and other crypto-tied names tend to move sharply as stand-ins for bitcoin—particularly when macro news is hitting faster than the typical batch of company headlines.
The oil shock drawing attention to Iran has a downside for crypto too: pricier energy tends to fuel inflation fears, lift yields, and undercut hopes for rate cuts. Jamie McGeever at Reuters pointed out that a $10-per-barrel jump in oil, if it sticks, could boost U.S. inflation by up to 0.2 percentage point per year—bad news for risk assets. 5
Bitcoin’s reputation as a “safe haven” remains up for debate. It dropped on the initial weekend headlines, only to rebound just as fast—a move that tracks what typically happens when trading thins out and positions unwind in a hurry.
Traders are now looking to the Federal Reserve’s policy meeting set for March 17-18, where officials plan to release updated projections. Chair Jerome Powell is also scheduled for a press conference. 6
