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Bitcoin traded largely unchanged on Tuesday, capping a muted performance for March as persistent risk aversion tied to the Middle East conflict continued to weigh on investor appetite for speculative assets.
The world’s largest cryptocurrency edged up 0.2% to $67,401.9 as of 02:44 ET (06:44 GMT), remaining within a narrow trading range that has defined much of its recent price action.
Geopolitical Uncertainty Caps Upside
The ongoing U.S.-Israel conflict with Iran showed little sign of easing, with continued strikes reported across Iran and neighboring Gulf regions. The prolonged tensions have kept global markets cautious, particularly toward risk-sensitive assets such as cryptocurrencies.
At the same time, Donald Trump is reportedly considering ending U.S. military involvement in Iran while allowing the Strait of Hormuz to remain closed, according to a report by The Wall Street Journal.
While such a move could signal partial de-escalation, the continued disruption of the key oil transit route is expected to sustain supply constraints, keeping energy prices elevated. This dynamic raises concerns about inflation and reinforces expectations for tighter global monetary policy—factors that typically weigh on cryptocurrencies.
Muted Monthly Performance
Bitcoin is on track for a flat performance in March, despite briefly climbing to around $75,000 earlier in the month. The cryptocurrency has since retreated back into its established trading range, reflecting a lack of strong directional momentum.
Although Bitcoin outperformed gold during the month—amid a sharp correction in the precious metal—it remains under pressure on a year-to-date basis, with losses approaching 23% so far in 2026.
Altcoins Show Mixed Trends
Performance across the broader crypto market has been mixed. Ether is on track to gain nearly 5% in March, marking a partial recovery after several consecutive months of declines.
In contrast, XRP is down approximately 3.9% for the month, while Solana is set to lose around 1.3%. Cardano has been the weakest among major cryptocurrencies, with losses of roughly 12.6%.
Among meme tokens, $TRUMP has declined 12.4% in March, while Dogecoin is down 2.8%.
Outlook
Crypto markets remain closely tied to macroeconomic and geopolitical developments. As long as uncertainty surrounding the Middle East conflict persists and energy-driven inflation risks remain elevated, investor appetite for digital assets is likely to stay subdued.
Bitcoin’s ability to break out of its current range will depend on clearer signals around global risk sentiment, monetary policy expectations, and the trajectory of geopolitical tensions.
