Bitcoin surged past $71,000 on March 4, 2026, rebounding from recent declines triggered by escalating tensions in the Middle East and weakness in other asset classes. The cryptocurrency reached a high of $71,812 in early London trading, its highest price in nearly a month, according to market data. Ether followed suit, gaining 6% to reach $2,086.
The world’s largest cryptocurrency had experienced a volatile period since the beginning of the conflict involving the United States, Israel, and Iran on February 28. Bitcoin briefly fell to $63,038 during that time. However, investor sentiment stabilized as inflows into U.S.-based spot Bitcoin ETFs exceeded $680 million over two days, March 2 and 3, according to Bloomberg data.
Analysts at brokerage FxPro suggested this development is a positive sign for cryptocurrencies, particularly given the strong selling pressure on other financial markets and gold during the March 3 session. They indicated that some investors may be viewing cryptocurrencies as a safe haven asset. This contrasts with traditional markets; major Asian stock indices experienced their largest drop in almost a year on March 4, led by a record fall in South Korea. U.S. Stock index futures also declined broadly.
Despite the recovery, the market remains under considerable pressure. After a prolonged sell-off, Bitcoin is still approximately 40% below its peak in October 2025. Analysts caution that the situation remains too fragile to declare a market bottom. Bitcoin continues to be vulnerable to sharp movements in equity markets, a factor that is prompting institutional investors to reduce leverage in their portfolios.
Zerohash, a cryptocurrency firm, has filed an application to obtain a national trust bank license in the United States, according to a report from Cryptoast on March 5, 2026. This move suggests a growing ambition within the crypto industry to integrate more fully into the traditional financial system.
The Securities and Exchange Commission (SEC) in the United States is also refining its regulation of crypto assets. The SEC has submitted an interpretation clarifying how securities laws apply to certain crypto assets, with three commissioners set to vote after an inter-agency review, Cryptoast reported.
