Following initial market drops after U.S.-Israel strikes on Iran, President Donald Trump's hints that the conflict could end soon fueled a cryptocurrency rally. Bitcoin climbed past $71,000, pushing total market cap to $2.41 trillion amid rising optimism.
In the latest development in the U.S.-Iran conflict—which initially triggered a Bitcoin plunge to $63,000 after strikes on February 28, 2026—President Donald Trump stated on March 11 and 12 that the war is 'pretty much complete' and could wrap up 'very soon.' Officials foresee two more weeks of fighting, potentially ending by month's end, with Trump noting there would soon be 'nothing left to attack.' Analysts see this as alleviating a major market risk, easing inflation fears from elevated crude oil prices.
Bitcoin rallied to $71,000, Ethereum stayed above $2,000, and the total crypto market cap reached $2.41 trillion. Altcoins like XRP also gained. The Crypto Fear and Greed Index rose from a year-to-date low of 10 to 27, nearing neutral territory and potentially signaling a bull run, echoing Warren Buffett's advice to 'be greedy when others are fearful.'
Uncertainties linger: Iran may opt for sustained attacks to push oil to $200 per barrel and deter future strikes. Oil prices have already fallen from recent highs post-Trump's remarks. While war resolution looks bullish for crypto, Iran's decisions remain pivotal.
