PANews reported on March 22 that, according to CoinDesk, Bitcoin fell sharply over the weekend, breaking below the $69,200 mark, after Trump issued a 48-hour ultimatum to Iran and threatened to strike power facilities. The 24-hour drop was approximately 2.2%, and the weekly decline widened to 3.1%. Dragged down by market sentiment, major crypto assets also weakened: Ethereum fell to approximately $2,114, while XRP, BNB, Solana, and Dogecoin all recorded varying degrees of decline.

The Federal Reserve kept interest rates unchanged this week, and its dovish stance should have supported risk assets. However, persistent news of war risks has deterred traders from making large one-sided bets. Analysts believe that if Iran fails to restore passage through the Strait of Hormuz by the deadline, the conflict could escalate further to the energy infrastructure level. Coupled with the disruption of approximately 20% of global oil and gas transportation, this could continue to suppress the performance of risk assets.