Bitcoin unexpectedly began rallying early Monday, as prices abruptly surged past $75,000 at some point, though only temporarily, according to data from TradingView.
At the time of writing, Bitcoin was up as much as 4.3% at $74,861. Ether climbed 7.4% to $2,287, about twice Bitcoin’s gain, while Solana rose 6.2% and XRP added 4.9%.
Even with the Iran war hanging over markets since late February, Bitcoin has held up better than a lot of traditional assets.
Gold is down about 5% this month, while Bitcoin is up more than 12%.
Part of that support is coming from fund flows.
The 12 U.S.-listed spot Bitcoin ETFs pulled in more than $763 million last week, marking a third straight week of inflows.
For March so far, total net inflows have reached $1.3 billion, a sign that institutional money is still coming in.
Meanwhile, U.S. crude oil prices briefly topped $100 a barrel as Donald Trump’s administration weighed military strikes on Tehran’s Kharg Island. At press time, U.S. crude was flat at $97 a barrel, while Brent was up 0.41% at $103.
In stocks, Dow Jones Industrial Average futures gained more than 200 points, or 0.45%. S&P 500 futures rose 0.50% and Nasdaq-100 futures added 0.55%. That followed another rough week on Wall Street.
The S&P 500 posted its third straight weekly loss and finished Friday at its lowest close of the year. For the week, the index fell 1.6%, while the Dow lost about 2% and the Nasdaq dropped 1.3%.
During Asia’s stock market session, Hong Kong’s Hang Seng rose by 1.45% to 25,834.02, while the CSI 300 was flat at 4,671.56.
Japan’s Nikkei 225 slipped 0.13% to 53,751.15. South Korea’s Kospi gained 1.14% to 5,549.85, while Australia’s S&P/ASX 200 fell 0.39% to 8,583.40.
Europe was weaker overall, as the Stoxx 600 index fell by 0.36% to 593.69 early Monday. The FTSE 100 was little changed, up 0.04% at 10,265.44.
Germany’s DAX dropped 0.37% to 23,360.03, France’s CAC 40 lost 0.58% to 7,865.56, Italy’s FTSE MIB fell 0.97% to 43,887.46, and Spain’s IBEX 35 declined 0.68% to 16,944.10.
