Bitcoin Falls 3 Percent to US$66,000 Level as US-Iran Peace Sentiment Fades, Pressuring the Market
Jakarta – Bitcoin’s price has slipped below the US$69,000 level during trading sessions from Friday to Sunday, 27-29 March 2026. The correction follows a global weakening of risk assets as market participants’ confidence in the potential for peace between the United States (US) and Iran begins to fade.
Citing Coindesk, the world’s largest cryptocurrency fell more than 3 percent from its previous high above US$71,000. As of 4:43 PM WIB, Bitcoin’s price stood at US$66,547.65, or approximately Rp1.12 billion (based on an estimated exchange rate of Rp16,980 per US dollar), and even dipped to US$65,706.58 during Saturday’s trading session on 28 March 2026.
Pressure has also hit major altcoins such as Ethereum, XRP, Solana, and Cardano, which collectively declined by around 4 to 5 percent. The current cryptocurrency market movements are inseparable from global macro dynamics, particularly energy prices.
The pressure has also spread to crypto-related stocks like Coinbase and Strategy, which weakened by around 3 to 4 percent. The sharpest declines occurred in shares of bitcoin mining companies. Hut 8 shares plunged 8.6 percent, while Riot Platforms and IREN each lost more than 7 percent.
Global oil prices surged around 4 percent, triggering new concerns about inflation and potential supply disruptions due to conflict in the Middle East.
Pressure is also evident in global financial markets. The technology stock index on the Nasdaq Composite weakened by 1.4 percent, while government bond yields rose sharply. The US 10-year Treasury yield climbed to 4.40 percent, reflecting increasing market uncertainty.
On the other hand, shares of tech giants known as the Magnificent Seven corrected significantly from their highs. Several of them, such as NVIDIA, fell 18 percent, Meta Platforms dropped 30 percent, and Microsoft corrected up to 34 percent.
“Looking ahead, short-term movements are likely to remain dependent on macro developments,” the analyst stated.