{"id":55012,"date":"2026-03-04T05:13:26","date_gmt":"2026-03-04T05:13:26","guid":{"rendered":"https:\/\/emilynews.com\/blog\/?p=55012"},"modified":"2026-03-04T05:13:29","modified_gmt":"2026-03-04T05:13:29","slug":"bitcoin-dives-3-on-global-asset-rout-as-5k-gold-smashed-on-oil-fears","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=55012","title":{"rendered":"Bitcoin dives 3% on global asset rout as $5K gold &#8216;smashed&#8217; on oil fears?"},"content":{"rendered":"<p>Bitcoin bulls gave up their latest mission to reclaim $70,000 as Iran escalation sparked oil supply fears that gripped stocks and gold.<\/p>\n<p>Bitcoin erased its latest trip to $70,000 on Tuesday as Middle East tensions sparked a global asset sell-off.<\/p>\n<p><strong>Key points:<\/strong><\/p>\n<ul>\n<li>\n<p data-ct-non-breakable=\"undefined\">Bitcoin and major asset classes all fall after the closure of the Strait of Hormuz.<\/p>\n<\/li>\n<li>\n<p data-ct-non-breakable=\"undefined\">Oil sees upside volatility while even gold fails to offer protection from uncertainty.<\/p>\n<\/li>\n<li>\n<p data-ct-non-breakable=\"undefined\">BTC price action again fails to hold $70,000 or nearby trend lines.<\/p>\n<\/li>\n<\/ul>\n<h2>Oil keeps BTC price firmly below $70,000<\/h2>\n<p data-ct-non-breakable=\"undefined\">Data from TradingView tracked 3.2% BTC price losses on the day as $66,000 came back into focus.<\/p>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-03\/019cb454-ab6c-7c35-8526-392e33406361.png\" alt=\"\" data-ct-img-zoomable=\"\" \/><figcaption><em>BTC\/USD one-hour chart. Source: Cointelegraph\/<\/em><em>TradingView<\/em><\/figcaption><\/figure>\n<p>Bitcoin joined stock markets worldwide in considerable weakness amid concerns over oil supplies and inflation, thanks to the closure of the Strait of Hormuz.<\/p>\n<p>The S&amp;P 500 and Nasdaq Composite Index were both down by about 2% after the Wall Street open, while gold also fell, targeting $5,000 support.<\/p>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-03\/019cb451-f66f-7165-8e7b-68599bfd7ed6.png\" alt=\"\" data-ct-img-zoomable=\"\" \/><figcaption><em>CFDs on WTI oil one-day chart. Source: Cointelegraph\/TradingView<\/em><\/figcaption><\/figure>\n<p>\u201cThe market is beginning to price-in a longer war,\u201d trading resource The Kobeissi Letter wrote in a response on X.<\/p>\n<p>BTC\/USD again failed to flip key trend lines to support, something that led Keith Alan, cofounder of trading resource Material Indicators, to conclude that bears remained in control.<\/p>\n<p>\u201cSo far $BTC bulls have failed to muster any momentum,\u201d he told X followers.<\/p>\n<blockquote data-ct-non-breakable=\"undefined\"><p>\u201cAfter losing the 2021 Top and the 21-Day SMA again, I\u2019m having flashbacks to March &#8211; Nov 2024 when we endured 8 months of consolidation in this range. Nothing about Monday&#8217;s rally has the DNA of a bull recovery.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-03\/019cb450-c6ad-779e-b77e-cb496a00cdad.png\" alt=\"\" data-ct-img-zoomable=\"\" \/><figcaption><em>BTC\/USD one-week chart. Source: Keith Alan\/X<\/em><\/figcaption><\/figure>\n<p>Others were hopeful on shorter time frames, noting Bitcoin&#8217;s comparatively stable response to the ongoing geopolitical crisis.<\/p>\n<div class=\"twitter-tweet twitter-tweet-rendered\"><iframe id=\"twitter-widget-0\" class=\"\" title=\"X Post\" src=\"https:\/\/platform.twitter.com\/embed\/Tweet.html?creatorScreenName=cointelegraph&amp;dnt=false&amp;embedId=twitter-widget-0&amp;features=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%3D%3D&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=2028846125155864913&amp;lang=en&amp;origin=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-dives-3-percent-asset-rout-5k-gold-smashed-oil-fears&amp;sessionId=29e8eb7ba544a5bb1937f5380d1bda258a476ead&amp;siteScreenName=cointelegraph&amp;theme=light&amp;widgetsVersion=2615f7e52b7e0%3A1702314776716&amp;width=550px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"2028846125155864913\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<p data-ct-non-breakable=\"undefined\">\u201cNot doing the worst since the escalation in the middle east. Actually outperforming stocks &amp; precious metals for a change,\u201d trader Daan Crypto Trades commented on the day.<\/p>\n<blockquote data-ct-non-breakable=\"undefined\"><p>\u201cNow we haven&#8217;t really seen it move up either as it is mostly holding steady in this same range. But good to keep an eye on. The sign of strength you&#8217;d want to see is if BTC also joins in on the eventual bounce stocks &amp; metals will see.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-03\/019cb44f-ed0d-7a22-b545-ce898f84019e.png\" alt=\"\" data-ct-img-zoomable=\"\" \/><figcaption><em>Macro asset performance comparison. Source: Daan Crypto Trades\/X<\/em><\/figcaption><\/figure>\n<div data-ct-widget=\"inline-parallax-ad\"><\/div>\n<h2>Gold weakens amid hopes of Bitcoin influx<\/h2>\n<p>Cointelegraph reported earlier on how rising oil prices tend to impact BTC price action.<\/p>\n<p><em><strong>Related: <\/strong><\/em><em><strong>\u2018This is not World War III:\u2019 Five things to know in Bitcoin this week<\/strong><\/em><\/p>\n<p>Nik Bhatia, founder of global macro research company The Bitcoin Layer, described gold as \u201cabsolutely smashed.\u201d<\/p>\n<p>\u201cGold looks very toppy at worst and technically damaged at best,\u201d he wrote on X while acknowledging year-to-date gains of 16%.<\/p>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-03\/019cb44f-5013-7bf1-8c52-81c58261e152.png\" alt=\"\" data-ct-img-zoomable=\"\" \/><figcaption><em>CFDs on gold one-day chart. Source: Nik Bhatia\/X<\/em><\/figcaption><\/figure>\n<p>Last week, crypto trader, analyst and entrepreneur Micha\u00ebl van de Poppe hoped that a potential capital rotation from gold to BTC was already getting underway.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin bulls gave up their latest mission to reclaim $70,000 as Iran escalation sparked oil supply fears that gripped stocks and gold. Bitcoin erased its latest trip to $70,000 on Tuesday as Middle East tensions &hellip; <a title=\"Bitcoin dives 3% on global asset rout as $5K gold &#8216;smashed&#8217; on oil fears?\" class=\"exalt-read-more\" href=\"https:\/\/emilynews.com\/blog\/?p=55012\"><span class=\"screen-reader-text\">Bitcoin dives 3% on global asset rout as $5K gold &#8216;smashed&#8217; on oil fears?<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":55014,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651,6],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-55012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","category-information","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin dives 3% on global asset rout as $5K gold &#039;smashed&#039; on oil fears? - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=55012\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin dives 3% on global asset rout as $5K gold &#039;smashed&#039; on oil fears? - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Bitcoin bulls gave up their latest mission to reclaim $70,000 as Iran escalation sparked oil supply fears that gripped stocks and gold. 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