#美伊局势影响 【Market Major Events】BTC Breaks 74,000, ETH Breaks 2,200, SOL Breaks 94, Why the Rise
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Xingyang Assistant
Xingyang Assistant
Xingyang Discusses New Narratives in Cryptocurrency
March 5, 2026 09:44
Beijing
2 people
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Today early morning, the crypto market followed the US stock market higher, reaching a new recent high, with BTC peaking above 74,000, up over 7% in 24 hours; ETH surpassing 2200, up 7.97% in 24 hours; SOL exceeding 94, up 4.71% in 24 hours. Total crypto market cap is about $2.5 trillion, with BTC dominance around 58%. Trading volume increased by 15% in the past 12 hours, the Fear and Greed Index is at 19, indicating extreme fear.
Amid the Middle East conflict impacting global stock markets and commodities, BTC has strengthened against the trend, reaching a one-month high, and has driven the overall crypto market to recover. After falling nearly 50% from its all-time high last October, BTC was in an oversold zone. Following the outbreak of this major conflict, traditional assets have plummeted, while BTC's relatively resilient performance has reinforced its phase "safe-haven narrative."
The recent rise is mainly driven by three major factors:
1. Return of the "Fiat Currency Devaluation" Logic
The escalation of the Middle East conflict increases global fiscal pressure, potentially boosting expectations of more easing and deficit expansion, reinforcing the "fiat currency devaluation" narrative, leading some funds to reallocate into digital assets.
2. Possible Easing of Middle East Tensions
Although the US has not responded, this news has strengthened market expectations that the conflict may not spiral out of control long-term, supporting risk asset sentiment recovery.
3. CLARITY Bill Nears Passage
Aiming to clarify the legal status of stablecoins, which is positive for the crypto market.