What to know:
- Crypto markets are flexing their tiny muscles on Tuesday as equity markets take a nosedive into the Iran war chaos.
- Bitcoin’s having a midlife crisis-retaken $68,000 after nearly falling to $66,000 earlier. Classic.
- Precious metals? They’re now less precious. Gold, silver, platinum: the trifecta of disappointment.
Yesterday’s stock rally? A total illusion, like thinking you’re in love with a dating app match. Reality hit hard today.
In the U.S., the Nasdaq is at session lows, down 2.5%. S&P 500? A 2.3% slump. Europe’s markets? They’re throwing a pity party-Italy’s IBEX 35 down 5.2%, Germany’s DAX at 4.1%. Yikes.
Precious metals, which were just hitting historic highs, are now crying into their portfolios. Gold down 4.3%, silver 7.5%, platinum 11.3%. WTI oil? It’s the only one partying, up 8% to $77/barrel. Congrats, oil.
Crypto, meanwhile, is the awkward friend trying to save the night. Bitcoin at $68,000, down 1% but up 2% from its day’s low. Not much, but hey, it’s not dead yet.
Ether, Solana, and XRP are also limping upward, but crypto stocks? Still getting roasted. Robinhood (HOOD) down 7%, Coinbase (COIN) at 5%. Strategy (MSTR) and Bullish (BLSH) both at 4%. Circle (CRCL)? At least it’s not a total disaster-down 1%.
Says James Butterfill of CoinShares: “Bitcoin’s the only liquid asset that trades on weekends. This time, it’s gaining despite instability. The absence of liquidations suggests positioning is… adjusted.” Translation: No one knows what they’re doing, but bitcoin is the only party guest who brought a cocktail.
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2026-03-03 19:18