Bitcoin rises nearly 14% since late February as ETFs draw 1.5 billion dollars and global markets face Iran conflict volatility.
Cryptocurrencies have stood out as global markets reacted to the Iran conflict, with Bitcoin and other digital assets posting gains.
While oil surged and equities declined, crypto prices remained firm, supported by institutional demand and trading flows, offering relative stability during a period marked by heightened geopolitical uncertainty and shifting investor positioning.
Crypto Gains Stand Out During Market Swings
Cryptocurrencies have shown strength during recent market volatility tied to the Iran conflict.
Bitcoin and other tokens moved higher while equities and commodities faced pressure. This shift placed digital assets among the best performing classes in recent weeks.
Cryptocurrencies have stood out as winners among asset classes since the outbreak of the war with Iran https://t.co/6upnhW2Fqb
— Bloomberg (@business) March 17, 2026
Bitcoin crossed the $75,000 mark during trading in Asia before easing slightly. At the time of writing, it was trading at $74,207 in early New York hours.
The token has gained nearly 14% since late February. This period followed the start of military action involving Iran.
Other markets moved in the opposite direction. Oil prices surged more than 40% during the same period.
Gold prices fell about 5% for the month. The MSCI World Index declined around 4%. This performance marks a contrast with earlier losses.
Bitcoin had dropped sharply in October after reaching above $126,000. The recent recovery began in late February and gained pace in March.
Institutional Demand and Market Mechanics Support Prices
Analysts point to market structure as a key factor behind Bitcoin’s resilience. Rachael Lucas of BTC Markets said demand from institutions has supported prices.
She stated, “Institutional buyers are absorbing supply on every dip.” Spot Bitcoin exchange traded funds in the United States recorded about $1.5 billion in inflows this month.
These inflows reflect renewed interest from large investors. Corporate treasuries have also increased their exposure.
Derivatives activity has also played a role in recent price moves. Markus Thielen of 10x Research noted that traders closed bearish options positions.
This process reduced selling pressure and supported prices. He explained that closing put options forces market makers to adjust positions.
They often buy Bitcoin to rebalance exposure. This creates additional demand and helps lift prices.
Data from Deribit shows about $1.5 billion in put options near $60,000. Around $1.3 billion in call options are positioned at $75,000.
These levels have influenced trading behavior in recent sessions.
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Momentum Builds but Signals Remain Mixed
Bitcoin’s rally has continued with support from futures markets and spot demand. Perpetual futures show a positive funding rate, which indicates strong interest in long positions.
Traders holding long positions pay fees to short sellers. The Coinbase premium also suggests firm demand in the United States.
Companies such as Strategy Inc. have added to their Bitcoin holdings. These purchases have contributed to upward momentum.
However, some analysts note that the rally lacks strong bullish positioning in options markets.
Thielen said the move has not been driven by aggressive call buying. Instead, it reflects hedge unwinding and positioning shifts.
Hayden Hughes of Tokenize Capital said the recovery began with strong positioning. He added that it has now shifted into a momentum driven phase.
“The original edge holders have already taken profit,” he said. Bitcoin may approach $80,000 in the near term, according to Hughes.
However, he warned that the rally could lose strength in the coming months. Market conditions remain tied to broader global developments and investor sentiment.
