Bitcoin Price Rises 2.62 Per Cent Following News of Iranian Leadership Death
Jakarta — Escalating tensions between Iran and Israel, with United States involvement in the conflict, could shake global markets and trigger risk-off actions across several financial markets. However, the cryptocurrency market demonstrated a different trajectory. According to CoinMarketCap on Sunday (1 March 2026), the majority of digital assets moved into positive territory during the last 24 hours of trading.
Bitcoin (BTC) price recovered from initial weakness and strengthened to the level of $67,555.83, rising more than 2.62 per cent. Meanwhile, Ether (ETH) also showed positive performance, strengthening to $2,021.35, up 5 per cent.
Several other altcoins gained as well, including XRP which rose approximately 4.6 per cent, BNB which strengthened over 2 per cent, and SOL which recorded a gain of nearly 7.5 per cent. Even smaller assets such as DOGE and ADA demonstrated growth of over 3 per cent each.
Bitcoin briefly rose more than 2 per cent to touch $68,196. Yet the previous day, the price had plummeted nearly 4 per cent due to market panic. At 11:00 Singapore time, Bitcoin was trading around $67,700. Ether also strengthened, surging over 4 per cent and breaking through the $2,000 level again.
During the bombing and retaliatory strikes, the crypto market experienced turbulence. Iran launched attacks on several locations, including Israel and various Gulf nations, and threatened bases related to the United States in Iraq.
“Traders generally did not anticipate that the Iran conflict would bring major negative economic consequences, and demand for Bitcoin call options has clearly increased over the past few days,” said Markus Thielen, Head of Research at 10x Research. He added that market participants also began positioning themselves ahead of the Federal Reserve meeting.
CoinGecko data showed cryptocurrency market capitalisation increased by approximately $32 billion by Sunday morning, after previously declining by around $128 billion in a single day.
“Bitcoin is the only large liquid asset traded 24/7, so it absorbs all selling pressure that is typically distributed across stocks, bonds, and commodities,” said Hayden Hughes, Managing Partner at Tokenize Capital. “With missiles hitting Dubai, Iranian retaliation in the Gulf region, and the risk of Strait of Hormuz closure, this is not a minor event,” he explained.
Over recent months, the crypto market has been in a weakening trend. Bitcoin has fallen approximately 50 per cent from its all-time high above $126,000 in October, following a wave of massive deleveraging liquidations.
Nevertheless, selling pressure is now considered less severe than previously because most speculative positions have been wiped from the market.
“As usual, when major events occur at the weekend, Bitcoin acts as a pressure valve,” said Justin d’Anethan, Head of Research at Arctic Digital. He noted that the initial impact on Bitcoin was not as drastic as some market participants had anticipated.
“With most leveraged positions already liquidated and sellers running out of steam, the impact of macro events becomes more limited,” he added.