It has been a historic and volatile 24 hours for global markets. Crypto traders are used to volatility but this trend is now over the crypto market. Bitcoin bounced back towards $70,000 and WTI crude dropped from $120 to $85 (now trading at $87) after President Trump declared that war against Iran was “far from normal”.
Is it really true? Iran seems to have a different view.
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US President Trump says the war with Iran may end soon.
Oil prices fell sharply after Trump suggested the conflict could end soon, easing fears of supply disruptions pic.twitter.com/fQbUSKBD92– Donald J Trump Posts TruthSocial (@TruthTrumpPost) March 9, 2026
Hours earlier, markets were jittery at the prospect of a four- to five-week-long conflict that threatened to choke global energy supplies. But the story turned in an instant. After comments in the afternoon in which Trump signaled that the war could be over “soon,” vulnerable goods rallied for relief.
Why are crypto and stocks moving in lockstep on geopolitical topics? The answer isn’t just about peace: it’s about money and the Federal Reserve.
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Trump Says Iran War May End Soon: Bitcoin Price Rallies Back to $70,000
To understand why Bitcoin rose 3.3% on news of a possible reversal, you have to look at what the market was afraid of just yesterday. As geopolitical tensions rise in West Asia, the immediate fear is a shock to oil market availability. We saw this clearly when Bitcoin previously fell below $66,000 as oil prices rose, showing how sensitive the crypto is to energy costs.
The method is simple:
- Escalation of War: Oil prices skyrocketed (up to $120). This raises inflation expectations. If inflation is rising, the Federal Reserve cannot lower interest rates. High prices drain liquidity from speculative assets like Bitcoin and technology stocks.
- Upside: Oil crashes back to $85. Inflation fears are easing. The market is quickly pricing in a higher probability of a Fed rate cut. Liquidity returns, and risk assets fly.
When Trump suggested that the timeline was days and not weeks, the “inflation premium” immediately disappeared from the market. Bitcoin responded the same way as high-beta tech stocks: it got stronger. The decline in oil is a tax cut on the global economy, freeing up money that could otherwise go back to risky assets.
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Bitcoin Price Returns to $70,000 as Tech Stocks Surge
The market reaction was swift and widespread. Bitcoin (BTC) is currently trading just below $72,000, up 3.3% in the last 24 hours. This finding effectively wipes out the losses from Sunday evening’s panic selling.
Correlations with traditional currencies remain strong. The Nasdaq closed up 1.25% and the S&P 500 gained 0.8%, reflecting the crypto recovery. Most importantly, crypto-proxies, stocks that are heavily tied to the digital assets market, are more efficient than the underlying coins:
- Circle (CRCL): +10%
- MicroStrategy (MSTR): +5%
- Coinbase (COIN): +2%
Traders are now looking at the psychological barrier of $70,000. If Bitcoin can break this level from resistance to support, the path to new highs is open again. However, we must respect the bear’s guilt. If Trump’s optimism proves that military action is premature, fears of a market crash could return, sending investors back into defensive positions.
The Iranian government wasted no time. In a recent statement, they confirmed that only Iran will announce that the war is truly over.
The IRGC says Iran, not the US, will decide the end of the war
Live updates: pic.twitter.com/Qqaeg6cbpF
– Al Jazeera Breaking News (@AJENews) March 10, 2026
Bitcoin needs to close this week above $70,000 to confirm that the correction is over. Oil prices need to stabilize below $85. If WTI crude moves back towards $100, the inflation fear narrative will reset, and the Fed may signal a hawkish pause.
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Key Takeaways
- Oil fell from $120 to $87, and Bitcoin gained 3.3% after Trump signaled that the Iran conflict is ahead of schedule.
- The rally is driven by macroeconomics: low oil prices reduce fears of inflation, which increases the likelihood of a Fed rate cut.
- Bitcoin price needs to blow $70,000 from resistance to support; a weekly close above this level is necessary to confirm the bullish trend.
The post Crypto and Stocks Jump as Trump Signs Iran War May End Soon appeared first on 99Bitcoins.
