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Bitcoin jumped after President Donald Trump said the Department of War had ordered planned military strikes on Iranian power plants and energy infrastructure for five days.
It was the order of recent US-Iran diplomatic talks, both sides describing their work as productive and constructive, that Trump wrote on Truth Social.
While the pause is limited in scope, the announcement was enough to send a wave of relief through risk markets that had been defeated by weeks of growing conflict in the Middle East.
Bitcoin returned to $71,000 on the back of the announcement, with gains seen across major crypto assets.
Ether gained above $2,100, BNB pushed through $650, and XRP traded above $1.4.
Background: Operation Epic Fury
Following weeks of turmoil following Operation Epic Fury, the US and Israeli military campaign launched on February 28, 2026 that targeted Iranian leadership leading to the killing of Supreme Leader Ali Khamenei, today’s rally comes after weeks.
This response triggered the violent attacks across the Middle East and led to sustained turmoil in global markets. From $66,000 to $76,000 since the operation began, Bitcoin has been trading in a volatile corridor from its initial start-up with lows of $63,255 as it dropped during the days after hostilities started.
Energy markets and inflation
It has been a disruption to energy markets that is the worst in its history. Since the outbreak, Brent crude has risen about 60% from around $70 per barrel to over $113 by March 20.
The International Energy Agency described the resulting supply shock as “the most serious oil disruption in recorded history”. The closure and threatened blockade of the Strait of Hormuz (Trump issued a 48-hour ultimatum demanding Iran to open the shipping lane) further raised concerns that there was an extended energy shortage.
This backdrop was reflected by the Federal Reserve, which met in March to review its 2026 inflation forecast upwards from 2 onwards. 4.4 – 2. 7%, reflecting surging energy costs passing through to consumer prices. Politicians slammed a ‘higher-for-longer’ position on interest rates.
VIvian Nguyen **Disclosure This article was edited by Vivial NGUyEN ‘This is a **Disclose. For more information on how we create and review content, see our Editorial Policy. ** ** .
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